Lloyd's and the FSA are conducting an on-going review into the simplification of the 'glass test'.
The review is also ensuring that the glass test falls in line with the FSA's enhanced capital requirements.
The glass test, commonly known as the release test, is a test performed to establish whether members can be awarded their surplus assets at Lloyd's.
Assets, which include funds at Lloyd's, distribution surplus and auction proceeds, can be released depending on a member's exposure to risk. The test is performed on three separate occasions during the year.
Anthony Young, chief executive of the Association of Lloyd's Members, said: "It would be an excellent idea if Lloyd's decides to merge the 'coming into line test' together with the glass test. To simplify matters there should only be one test instead of two."