What is the main focus of the FCA's rule-making powers?

The main focus of the FCA's rule-making powers is indeed to ensure compliance and enforce regulations. The Financial Conduct Authority (FCA) is responsible for regulating financial markets and firms in the UK, with the goal of protecting consumers, enhancing market integrity, and promoting competition. The FCA's rule-making powers allow it to set standards and enforce compliance among the firms it regulates, ensuring that they adhere to necessary regulations to maintain ethical practices and safeguard consumer interests.

Through these powers, the FCA can establish rules that require firms to act in a transparent and fair manner, monitor their conduct, and take action when breaches occur. This regulatory framework is critical for maintaining trust in the financial system and for protecting consumers from potential abuses or unethical practices.

While providing financial advisement, simplifying financial services, and amending consumer protection laws are important activities, they do not encapsulate the primary role of the FCA's rule-making powers, which are centered around compliance and enforcement.