NEWS
Grain Firms Face Recording Rule
Wed Dec 12, 2012 04:13 PM CST

(Dow Jones) -- Grain companies in the U.S. heartland are facing a new kind of "bug."

Market regulators have proposed new regulations that would require futures firms and exchange members to record everything from cellphone calls to text messages related to deal making on U.S. commodity or futures markets.

The so-called "phone-tapping rule" has provoked an outcry among agricultural groups, merchants, brokers and other players, with critics warning it could add costs and help drive farmers from hedging risk in the futures market, while others see the idea as unworkable in a business where deals are still made face-to-face.

The ...

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