The European Competition Authority is a regulatory body responsible for ensuring fair competition within the European Union. It monitors business practices to prevent anti-competitive behavior, such as monopolies and cartels, which can harm consumers and the economy. The authority investigates mergers and acquisitions to ensure they do not significantly reduce competition in the market. Additionally, the authority enforces EU competition laws, which are designed to promote a level playing field for businesses. It can impose fines and sanctions on companies that violate these laws, helping to maintain a competitive market environment that benefits consumers and fosters innovation.