[3D Duty of FCA and PRA to ensure co-ordinated exercise of functions]
[3D Duty of FCA and PRA to ensure co-ordinated exercise of functions]

[(1)     The regulators must co-ordinate the exercise of their respective functions conferred by or under this Act with a view to ensuring—

(a)     that each regulator consults the other regulator (where not otherwise required to do so) in connection with any proposed exercise of a function in a way that may have a material adverse effect on the advancement by the other regulator of any of its objectives;

(b)     that where appropriate each regulator obtains information and advice from the other regulator in connection with the exercise of its functions in relation to matters of common regulatory interest in

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