The update describes the permanent revocation of an insurance license by a state regulator following an enforcement action for fraudulent conduct and misrepresentation.
Mandatory inheritance: Licence Revocation is a child of Enforcement, so Enforcement must be raised as the secondary tag.
Product
This regulatory update concerns personnel disciplinary action and license revocation for fraudulent conduct by an individual insurance agent, not a financial product or service offering.
No secondary product type is applicable as the update addresses enforcement and personnel matters rather than any financial product, service, instrument or proposition.
Obligation
The update documents a regulatory enforcement action resulting in license revocation for fraudulent conduct, which represents an Approval and Certification obligation being withdrawn by the regulator as a disciplinary sanction.
The update includes a prohibition on reapplication and retention of regulator jurisdiction over the matter, which reflects ongoing Governance and Oversight of the enforcement outcome, though this is secondary to the primary license-revocation action.
Activity
This is a regulatory enforcement action concerning license revocation for fraudulent conduct, which does not map cleanly to any specific business activity in the taxonomy; the content is administrative/disciplinary rather than describing an active financial service.
While fraud is mentioned, the update focuses on enforcement and license revocation rather than the design or operation of fraud prevention controls or detection systems.
Themes
The enforcement action centers on fraudulent conduct (exam impersonation and misrepresentation) by an individual insurance agent, which relates to financial crime and fraud prevention, though the update is primarily an administrative license revocation rather than a forward-looking regulatory requirement.
The fraudulent practices and dishonest conduct in obtaining and holding an insurance license reflect fraud prevention concerns, though this is a retrospective enforcement action against an individual rather than a prospective regulatory control.
Functions
This is a personnel enforcement action resulting in license revocation for fraudulent conduct by an individual insurance agent, which has limited direct operational impact on retail financial services functions within a firm.
Legal functions may need to monitor this precedent for conduct-risk implications and ensure internal controls prevent similar licensing fraud, though the update is primarily an external enforcement action against an individual.
2026-08-17 18:43:10·pdonofrio@vixio.com
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TITLE: Michigan Department of Insurance and Financial Services Revokes Insurance License of Anthony Markovski
BODY:
On August 12, 2026, the Michigan Department of Insurance and Financial Services (DIFS) revoked the insurance license of Anthony Markovski following an enforcement action for fraudulent conduct. Joseph A. Garcia, Senior Deputy Director and General Counsel, issued the Order Accepting Stipulation in enforcement case number 26-19036, which accepted Markovski's admission to violations under the Michigan Insurance Code (MCL 500.100 et seq.).
DIFS served Markovski with a Notice of Opportunity to Show Compliance on June 2, 2026, alleging conduct warranting disciplinary action and monetary penalties. Markovski admitted to obtaining a license through misrepresentation and fraud in violation of Section 1239(1)(a) of the Code, and to using fraudulent and dishonest practices while demonstrating untrustworthiness in the conduct of business in violation of Section 1239(1)(g). Specifically, Markovski hired and employed Alicia Jackson to take and pass an online proctored licensing exam on his behalf. By entering into the Stipulation to Entry of Order, Markovski waived his right to a hearing before an administrative law judge and agreed to the immediate revocation of his license in lieu of further disciplinary action. The revocation became effective immediately upon entry of the order. Markovski is prohibited from reapplying for any license administered by DIFS. Any attempt to do so will constitute a violation of the order and will result in the commencement of additional disciplinary proceedings. The Senior Deputy Director retains jurisdiction over the matter and has authority to issue further orders as deemed necessary and appropriate under the Michigan Insurance Code.
STATE OF MICHIGAN DEPARTMENT OF INSURANCE AND FINANCIAL SERVICES Before the Director of the Department of Insurance and Financial Services In the matter of: Anthony Markovski Enforcement Case No. 26-19036 System ID No. 1347356 Respondent. _____________________________/ Issued and entered on August _1_2_ _, 2026 by Joseph A. Garcia Senior Deputy Director, and General Counsel ORDER ACCEPTING STIPULATION Based upon the Stipulation to Entry of Order and the files and records of the Department of Insurance and Financial Services (DIFS) in this matter, the Senior Deputy Director finds and concludes that: 1. The Senior Deputy Director has jurisdiction and authority to adopt and issue this Order Accepting Stipulation in this proceeding pursuant to the Michigan Administrative Procedures Act of 1969 (APA), as amended, MCL 24.201 et seq., and the Michigan Insurance Code of 1956 (Code), MCL 500.100 et seq. 2. All required notices have been issued in this case, and the notices and service thereof were appropriate and lawful in all respects. 3. Acceptance of the Stipulation to Entry of Order is reasonable and in the public interest. 4. All applicable provisions of the APA have been either satisfied or waived by all Parties. 5. On or about June 2, 2026, DIFS served a Notice of Opportunity to Show Compliance (NOSC) on Respondent. In the NOSC, DIFS asserted that Respondent provided justification for sanctions pursuant to Sections 1239(1)(a) and 1239(1)(g) of the Code, MCL 500.1239(1)(a) and MCL 1239(1)(g). 6. Respondent admits that sanctions are warranted under Section 1239(1)(a) of the Code, MCL 500.1239(1)(a), because Respondent attempted to and did obtain a license through misrepresentation or fraud. 7. Respondent admits that sanctions are warranted under Section 1239(1)(g) of the Code, MCL 500.1239(1)(g), because Respondent used fraudulent or dishonest practices and demonstrated untrustworthiness in the conduct of business. Order Accepting Stipulation Enforcement Case No. 26-19036 Page 2 of 2 8. The Director is authorized to take disciplinary action against Respondent’s insurance license in addition to the imposition of monetary penalties for the above-described statutory violations pursuant to Sections 1239 and 1244 of the Code, MCL 500.1239 and MCL 500.1244. Now therefore, based upon the Stipulation to Entry of Order and the facts surrounding this case, IT IS ORDERED THAT: 9. All agreements contained in the Stipulation to Entry of Order are accepted and adopted in their entirety. 10. Respondent shall comply with all terms agreed to in the Stipulation to Entry of Order. A failure to comply with a term in the Stipulation shall be deemed a violation of this Order. 11. Respondent’s license is hereby REVOKED, effective immediately. 12. Respondent shall not reapply for a license administered by the Michigan Department of Insurance and Financial Services. Any attempt to do so will constitute a violation of this Order and will result in the commencement of additional proceedings. 13. The Senior Deputy Director retains jurisdiction over the matters contained herein and has the authority to issue such further order(s) as shall be deemed just, necessary, and appropriate in accordance with the Michigan Insurance Code. Failure to abide by the terms and provisions of the Stipulation to Entry of Order and this Order may result in the commencement of additional proceedings. ____________________________________ Joseph A. Garcia Senior Deputy Director, and General Counsel STATE OF MICHIGAN DEPARTMENT OF INSURANCE AND FINANCIAL SERVICES Before the Director of the Department of Insurance and Financial Services In the matter of: Anthony Markovski Enforcement Case No. 26-19036 System ID No. 1347356 Respondent. _____________________________/ STIPULATION TO ENTRY OF ORDER Anthony Markovski (Respondent) stipulates to the following: 1. Respondent had the opportunity to have this Order Accepting Stipulation and Stipulation to Entry of Order (collectively “Consent Order”) reviewed by legal counsel. 2. Respondent has read and understands this Consent Order. 3. Respondent understands that Respondent has a right to a hearing before an administrative law judge, at which DIFS would be required to prove the charges set forth by presentation of evidence and legal authority and at which Respondent would be entitled to appear, to cross-examine all witnesses presented by DIFS, and to present such testimony or other evidence or legal authority deemed appropriate as a defense to said charges. Respondent understands and intends that by agreeing to the Consent Order, Respondent is knowingly and voluntarily waiving Respondent’s right, pursuant to the Michigan Insurance Code of 1956 (Code), MCL 500.100 et seq., the rules promulgated thereto, and the Administrative Procedures Act (APA), MCL 24.201 et seq., to a hearing before an Administrative Law Judge. 4. Respondent agrees that all parties have complied with the procedural requirements of the APA and the Code. 5. The Senior Deputy Director retains jurisdiction over the matters contained herein. 6. On or about June 2, 2026, the Department of Insurance and Financial Services (DIFS) served Respondent with a Notice of Opportunity to Show Compliance (NOSC) alleging that Respondent committed conduct warranting disciplinary action against Respondent’s license and monetary penalties pursuant to Sections 1239 and 1244 of the Code, MCL 500.1239 and MCL 500.1244. 7. Respondent admits to hiring and employing Alicia Jackson to take and pass an online proctored licensing exam on Respondent’s behalf, justifying sanctions under Sections 1239(1)(a), 1239(1)(g), and 1244 of the Code. 8. Respondent agrees that, in lieu of further disciplinary action, Respondent’s license shall be revoked, effective immediately upon entry of the Consent Order. Order Accepting Stipulation Enforcement Case No. 26-19036 Page 2 of 2 9. Respondent shall not seek another license administered by DIFS. Any attempt to do so will constitute a violation of this Stipulation and will result in the commencement of additional disciplinary proceedings. 10. Both parties consent to entry of the Consent Order upon its approval by the Senior Deputy Director. 11. Respondent understands that this Consent Order will be presented to the Senior Deputy Director for approval and that the Senior Deputy Director may or may not approve and adopt it. Respondent further agrees that the Senior Deputy Director has jurisdiction and authority to approve and adopt this Consent Order. 12. Respondent waives any objection to the Director deciding this case following a Michigan Office of Administrative Hearings and Rules hearing in the event that the Consent Order is not approved. 09/o7 12% Anthony Markovski Date System ID No. 1347356 DIFS Staff approve this Stipulation and recommend that the Senior Deputy Director accept it and issue an Order Accepting Stipulation. JLRRx 8-10-2026 KL?s 88888-----1111100000-----22222000002222266666 as=«so Date DIFS Staff Attorney