What is a potential consequence for a licensee if they disclose nonpublic personal financial information without consent?

Disclosing nonpublic personal financial information without the consent of the individuals involved can lead to significant regulatory action against the licensee. This outcome stems from laws and regulations regarding privacy and confidentiality, which are designed to protect consumers' sensitive information. Regulatory bodies impose strict penalties for violations, which can include fines, suspension, or even revocation of their license. The importance of maintaining consumer trust hinges on how well a licensee safeguards personal information, and unauthorized disclosure undermines this trust and can lead to reputational harm as well as legal consequences. Thus, the potential consequence for a licensee who fails to protect nonpublic personal financial information is indeed facing regulatory action.