The Commission shall refer to the appropriate hearing board for a hearing any matter for which a hearing may be required under § 16–701, § 16–701.1, or § 16–701.2 of this title. The hearing board may exercise the same powers and shall conduct a hearing in accordance with the same procedures applicable to the Commission under § 16–602 of this title. The hearing board shall determine if there is a reasonable basis to believe that there are grounds for disciplinary action under this title against a licensee. If the hearing board finds a reasonable basis as provided under paragraph (1) of this subsection, the hearing board shall: hold a hearing on the matter; and file its finding with the Commission. If the hearing board does not find a reasonable basis as provided under paragraph (1) of this subsection, the hearing board shall dismiss the complaint. A hearing board shall advise the Commission specifically of any action brought against a licensee as a result of monetary loss, misappropriation of money, or fraud. Within 15 days after the filing of a decision by a hearing board, the Commission or any of its members may file an exception to the decision of the hearing board. On the filing of an exception under subparagraph (i) of this paragraph, the Commission shall set a hearing on the matter. If an exception is not filed within the time allowed under paragraph (1)(i) of this subsection: the decision of the hearing board shall be considered as the final decision of the Commission; and any party aggrieved by the decision may take a judicial appeal as provided in this title.