Final answer:
The Department of Financial Services can enforce formal negative sanctions such as fines, suspension, revocation, and restitution against a licensee who violates regulations. Option a is correct.
Step-by-step explanation:
The Department of Financial Services may impose several types of discipline on a licensee when they do not comply with regulations or standards. These are known as formal negative sanctions and can include:
- Fines - Monetary penalties for violations or non-compliance.
- Suspension - Temporary removal of a licensee's right to practice.
- Revocation - Permanent removal of licensure, prohibiting the individual from practicing.
- Restitution - Requiring the licensee to compensate for any harm or loss caused.
These measures serve to maintain the integrity and trust in the financial services sector by enforcing accountability for actions that go against industry standards.