This book explores mandatory disclosures that have become so prevalent in today's environment and starts by asking the question why do we need mandatory disclosures. First, the book develops a framework using a Principal-Agent model that provides an economic rationale for such disclosures. Second, the book analyses the requirements outlined in Basel banking regulations over three decades and finds support for the propositions outlined in the developed framework in all key BCBS pronouncements. Last, the book empirically evaluates Pillar 3 disclosures and arrives at the surprising result that such disclosures do not seem have an impact on bond investors. The result raises questions regarding the efficacy of market discipline--a conclusion that seems to be borne out by the recent failure of Silicon Valley Bank and Credit Suisse. The book concludes by outlining the policy implications regarding the design, efficacy, implementation, and limitations of regulation in an economy. Kumar Dasgupta is currently a Visiting Faculty (part-time) in Accounting at the University of Cambridge, Judge Business School, , UK and also the Technical Director (part-time) at the IVSC, the body responsible for setting global standards on valuations. Prior to this Kumar was Technical Director at the IFRS Foundation, the body responsible for setting IFRS Accounting Standards, and was responsible for projects relating to financial instruments accounting.