def check_regimes(reg_set, N=None, K=None):
    """Check if there are at least two regimes

    Parameters
    ----------
    reg_set     : list
                  List of the regimes IDs

    Returns
    -------
    Returns : nothing
              Nothing is returned

    """
    if len(reg_set) < 2:
        raise Exception(
            'At least 2 regimes are needed to run regimes methods. Please check your regimes variable.'
            )
    if 1.0 * N / len(reg_set) < K + 1:
        raise Exception(
            "There aren't enough observations for the given number of regimes and variables. Please check your regimes variable."
            )
