It is shown that general relativity coupled to nonlinear electrodynamics (NED) with the Lagrangian $L(F)$, $F = F_mn F^mn$ having a correct weak field limit, leads to nontrivial static, spherically symmetric solutions with a globally regular metric if and only if the electric charge is zero and $L(F)$ tends to a finite limit as $F \to \infty$. Properties and examples of such solutions, which include magnetic black holes and soliton-like objects (monopoles), are discussed. Magnetic solutions are compared with their electric counterparts. A duality between solutions of different theories specified in two alternative formulations of NED (called $FP$ duality) is used as a tool for this comparison.
Categories: gr-qc