Tempted to say that it should be more of a concern to insurance providers rather than regulators. An MPL scheme works out fab as long as there's a job in the end of it. However, when said job becomes non-existent by the time of graduation, there should be a clause in the mandatory training expenses insurance allowing the costs of conversion to ATPL to be claimed from the insurance since graduation with a non-transferable qualification and no job is more or less equal to loss of training expenses.