<h1>Government Forms Task Forces to Modernize Financial Sector, Proposing New Agencies Like FSAT, RC, PDMA, and FDMC.</h1> The Financial Sector Legislative Reforms Commission (FSLRC), established in 2011 to modernize financial sector laws, submitted its report in 2013 recommending a principle-based legislative framework. In response, the government has constituted Task Forces to develop plans for upgrading existing regulatory bodies and creating new agencies. These include the Financial Sector Appellate Tribunal (FSAT), Resolution Corporation (RC), Public Debt Management Agency (PDMA), and Financial Data Management Centre (FDMC). The formation of these Task Forces has been publicly announced by the Ministry of Finance.