4.9.5Compliance Reporting

SBM Offshore reports on significant fines paid by SBM Offshore and all affiliate companies. To define a significant fine the following thresholds are considered (subject to final assessment by Management Board on a case by case basis) :

  1. Operational fines of a regulatory and/or administrative nature which exceed US$500,000

    1 significant operational fine had to be paid by an affiliated company in 2020, amounting approximately US$950k − of which 50% is attributable to SBM Offshore

  2. Legal and compliance fines of a criminal nature which exceed US$50,000

    No significant legal and compliance fines had to be paid in 2020.