This paper explores how the basic amount of a fine is calculated, analyses how the basic fine adjustments due to aggravating and mitigating circumstances vary or converge across jurisdictions and reviews several challenges competition authorities often face when levying fines based on the fine-setting process in practice as well as the various types of sanctions and examines the pros and cons of the sanctions. It was prepared as background for a discussion held at the 2016 OECD Global Forum on Competition.
