Where it appears that, pursuant to the provisions of section 197.4 of this Part, sufficient cause exists for the denial of any application for, the revocation or suspension of, or refusal to renew any permit or certificate covered by this Part, the commissioner shall send a notice to the applicant or permit or certificate holder stating the proposed adverse action to be taken, the ground or grounds on which such action is based, and that the commissioner's proposed action shall become final unless, within 10 calendar days of the receipt of the notice, the party who may be aggrieved by the proposed action files with the commissioner a written request for a hearing. Reasonable notice of the hearing, containing the date, time, place and purpose of the hearing, shall be given by registered or certified mail to all parties to the hearing. The hearing shall be conducted by an employee of the Department of Labor designated by the commissioner to be the hearing officer, who shall not be bound by statutory rules of evidence or by technical or formal rules of procedure. A record shall be made of the sworn testimony. Every party to the proceeding shall have the right to counsel and a full opportunity to be heard, including such cross-examination as may be appropriate in the circumstances. The hearing officer, as soon after conclusion of the hearing as is possible, on the basis of the record made in the proceeding, shall submit his report and recommendation to the commissioner, who shall thereafter issue his order and determination promptly.