If you make incredibly loud noises above water, humans will complain, and you'll end up reducing the noise, due to some combination of workplace safety regulations, litigious neighbors, and self-regulation.
People don't experience underwater noise directly, though, and so it is allowed to be arbitrarily loud and has gone almost completely unchecked, and is undoubtedly harmful got marine ecosystems. It is thought to be a major factor in whale beachings, for example.