Must we pay for OT that was not pre-approved??

Our company policy states that all overtime must be approved in advance (and in writing) by either the immediate supervisor or the VP of the group.

We have some employees who have just submitted for OT pay, when it was never approved. Although I am sure we probably are obligated to pay them (?) I see this as a disciplinary issue. So, my question is two-fold:

1. Must we pay them?
2. Can we put them on notice that if this happens again, they're in big trouble?

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