On 26 October 2011, the Office of Fair Trading (“OFT”) opened up for consultation its new draft guidance on the assessment of penalties under the competition rules. One key change is the proposal to raise the maximum starting point for penalty calculations from 10% to 30% of an undertaking’s relevant turnover. The OFT also published a new draft leniency document for consultation. The deadline for responses to the consultations is 26 January 2012. Read more