specified in the SEC notification, the Minister shall have the power to revoke the license to operate all or any type of securities businesses so licensed upon the recommendation of the SEC.

Cluster 1 Cluster 2 Cluster 3 Cluster 4 Provident fundsMutual fundsInsurance 3.9 9.4 11.6 24.0 Insurance Provident funds Insurance Primary vehicle Mutual funds Retirement saving adequacy 11% 18% 28% % of

Electricity Authority 326 employees 8. Ministry of Commerce 307 employees Analysis Using Cluster Analysis for clustering Thai investor based on their behavior or Proportions of their money allocated to each

appeal? The SEC Office reconsider- action Revoke or amend the order Administrative Court The SEC Board consideration Is the appellant satisfied? The SEC Office imposes the sanction. Administrative Panel

association between Thai investor cluster membership and their financial literacy. Thai investor clusters differ considerably in their financial literacy such that modern investors tend to possess financial

• A related strand of research focuses on price clusters. • Many studies have found that the stock prices tend to cluster around particular numbers (e.g. Harris (1991), Aitken et al. (1996), Brown et al

Habitat Pinklao- Sirindhorn Project Name Thana Cluster Project Type Semi-detached house, 3 Floors-Townhome Price 5-10 MB Number of Projects 5 Projects Project Value (Approximately) 412 MB Units per Project

which are in the process of selling which are (1) K.C. Cluster Nimitmai Project (having outstanding 200 units ) and (2) K.C. Cluster Ramintra 7 phase 1 (having outstanding 35 units). As a result, the

prohibited characteristics under Clause 5(1) to (3), the SEC Office shall revoke the approval; (2) in case of the second category of prohibited characteristics under Clause 5(4) or (5), the SEC Office shall

the power to revoke the registration of derivatives business operator. In case where the SEC Office knows that the cause of not maintain the 3 Amended by the Notification of the Securities and Exchange