Heather Zollinger - if someone does not follow the guidelines, that's what they meet with - Disciplinary Sanctions.

Not heard of any, though.

Prison. If you need to ask what a disciplinary sanction is, when the words are self-explanatory, you probably need to be very careful.

Prison

Nina Hollander nailed this one!

1)  Fred Griffin provided  you with this answer.

2)  Jail.  Loss of license/income.   Monetary damages.  The state of California used to print the names in an update.  Now it's online.  

Prison works for me

There was a broker here about 20 years ago who was caught check kiting and spent time at Club Fed.  

    Permanent revocation of license, for lying to the Department of Business and Professional Regulation, Division of Real Estate.

Jail time with loss of a license.

One of our State assemblyman lost his real estate license...and he keeps getting re-elected. Our disciplinary actions are on the Real Estate Commission website. 

Heather Zollinger An agent losing their license due to an escrow violation.

Loss of license ... jail time. 

slap on the wrist.... don't focus on that....just learn to market and make the phone ring.... 

You get caught misbehaving and you can get fined, have your license suspended or revoked, or even end up in jai

Spend your days here.

The penalties could be monetary, suspension or revocation. I have seen monetarty and suspension but no revocation.

We had a few agents in Denver sent to jail for their actions in 2008.

Check and follow the regulations in your state to avoid the loss of your license, fines or jail time.

Revocation of license and some time in an orange jumpsuit!

Permanent ban on being in the real estate industry. Odftyen jail time is associated with that.

Anyone who is licensed and gets a reprimand has a mark which is serious

I heard of a guy playing games and lost his license and did prison time

Chapter 12, Compliance and the Law

The others have answered.

In our state it can be:

a reprimand

fine

suspension of license

revocation of license

a combination of all of the above.

The worst I have read about is revocation of license and fine of $50,000.

I keep my eye on the positive.

Financial charge and losing the license( what can be worse? maybe just a jail time?)

You will have consequences when you don't follow the rules. 

When you don't follow the rules or the law you pay the piper

What Jeff Dowler said.  I know of such a case.  It was for misuse of trust funds.  

The worst I have heard of is revocation - and reference to the attorney general for legal prosecution.

Best of luck with your studies

Great answers. 

Be a pro and do no harm!