With the final date for registration behind us, the industry may soon have a clearer picture of the potential fall-out as a result of people not having written the regulatory exams.
Figures released since late last year resulted in a number of questions being asked about its accuracy. This was clearly set out in the latest explanatory circular from the Regulator, and we now have a better idea of the situation.
The one big “unknown” is how many people registered since the figures released in May. From our experience with the deadline for licence applications in September 2004, we expected a substantial increase in registrations, and so it turned out to be. This led to us adding a number of extra dates and venues to accommodate the demand.
Another factor which may influence the final figures, is how many of those who registered, will actually write. If a candidate registers, but do not pitch up to actually write, he or she will not qualify to write again before 30 September.
We are aware of candidates who intend leaving the industry, but wish to extend the time of their departure by three months. It is very important that you do attend the exam session you booked for, even if you just complete the documentation and sit for the obligatory thirty minutes.
Something else to consider is the value of your business, should you intend selling it. In the event of you being suspended, you seriously detract from your bargaining power.
Harsh as it may sound, we suggest that you forget about the bigger picture in terms of numbers for now, and concentrate on what is best for you.