The current global economic crisis, the worst since the Great Depression, has financial regulators changing their views on how capital markets should be regulated. Whilst it is important, and perhaps mandatory, to strive for greater market liberalization for the benefits of investors, the school of thought which held widespread support prior to the crisis – that market deregulation would lead to more efficient growth of wealth – has been heavily challenged by a more cautious approach, with a push towards increased transparency and investor protection. The Thai government has been attempting to achieve a greater balance for market liberalization and yet maintain the protection needed for the investing public. This article examines recent measures taken by the Thai regulator in balancing market liberalization and investor protection.