The UK’s Competition Appeal Tribunal (“CAT”) has reduced to a fraction of the original amount the fines imposed by the UK Office of Fair Trading (“OFT”) on six construction companies in the construction cover pricing case. The CAT’s judgment, handed down on 11 March 2011, criticises the OFT’s view of the seriousness of the infringements concerned and the OFT’s “one size fits all” approach to adding a deterrence factor to the companies’ basic fines.