14 Jan 2025
📈Federal Maritime Commission Inflation Adjustment of Penalties 2025
Inflation Adjustment of Civil Monetary Penalties
Summary
The Federal Maritime Commission (Commission) is publishing this final rule to adjust for inflation the civil monetary penalties assessed or enforced by the Commission, pursuant to the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (2015 Act). The 2015 Act requires that agencies adjust and publish their new civil penalties by January 15 each year.
Agencies
- Federal Maritime Commission
Business Impact
$$ - Med
The text outlines the Federal Maritime Commission's adjustment of civil monetary penalties due to inflation, effective January 15, 2025. This directly impacts business owners in the maritime sector, as they must comply with increased penalties for violations, affecting financial planning and risk management.