Any person failing to meet the requirements imposed by this chapter or who has submitted to the commissioner a false or fraudulent certificate of compliance, after a hearing thereon which hearing may be waived by the person, may be subject to the suspension of all licenses issued for any kind or kinds of insurance or to a civil fine as further provided in this section, and no further license shall be issued to the person for any kind or kinds of insurance until the person has demonstrated to the satisfaction of the commissioner that he or she has complied with all of the requirements of the chapter and all other laws applicable thereto. In lieu of suspension of a license and in the sole discretion of the commissioner, for those licensees who have submitted a false or fraudulent certificate of compliance, a licensee may be subject to a civil fine in an amount not to exceed ten thousand dollars ($10,000) after a hearing. The hearing may be waived by the licensee.