The Russian Parliament has just dealt the latest blow to the regulated forex industry in the country. A legislative effort started by the Association of Forex Dealers (AFD) was turned down.

The representatives have turned down a proposal set out by the brokers which were pleading for a less stringent client verification methodology.

Local media outlines that the governor of the Bank of Russia, Elvira Nabiulina has been very vocally opposed to the industry. The position of the Russian government and now parliament is confirming the stance of local authorities.

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The legislative effort ... (read more)