s 314 Regulators' general duty.
(1) So far as it is appropriate to do so for the purpose of advancing one or more of its operational objectives, the FCA must keep itself informed about— (a) the way in which the Council supervises and regulates the market at Lloyd's, and (b) the way in which regulated activities are being carried on in that market. (1A) So far as it is appropriate to do so for the purpose of advancing its general objective or (if section 2C applies) its insurance objective, the PRA must keep itself informed about— (a) the way in which the Council supervises and regulates the market at Lloyd's, and (b) the way in which any PRA-regulated activities are being carried on in that market. (2) Each regulator must keep under review the desirability of exercising— (a) any of its powers under this Part; (b) any powers which it has in relation to the Society as a result of provision made by or under this Act .