PUBLIC LAW 106-554—APPENDIX E 114 STAT. 2763A-383 "(B) any agreement, contract, or transaction, not otherwise subject to this Act, that is not so excluded or exempted, is or would otherwise be subject to this Act. "(2) No provision of, or amendment made by, the Commodity Futures Modernization Act of 2000 shall be construed as conferring jurisdiction on the Commission with respect to any such agreement, contract, or transaction, except as expressly provided in section 5a of this Act (to the extent provided in section 5a(g) of this Act), 5b of this Act, or 5d of this Act.". SEC. 108. PROTECTION OF THE PUBLIC INTEREST. The Commodity Exchange Act is amended by striking section 3 (7 U.S.C. 5) and inserting the following: "SEC. 3. FINDINGS AND PURPOSE. "(a) FINDINGS.— The transactions subject to this Act are entered into regularly in interstate and international commerce and are affected with a national public interest by providing a means for managing and assuming price risks, discovering prices, or disseminating pricing information through trading in liquid, fair and financially secure trading facilities. "(b) PURPOSE.— It is the purpose of this Act to serve the public interests described in subsection (a) through a system of effective self-regulation of trading facilities, clearing systems, market participants and market professionals under the oversight of the Commission. To foster these public interests, it is further the purpose of this Act to deter and prevent price manipulation or any other disruptions to market integrity; to ensure the financial integrity of all transactions subject to this Act and the avoidance of systemic risk; to protect all market participants from fraudulent or other abusive sales practices and misuses of customer assets; and to promote responsible innovation and fair competition among boards of trade, other markets and market participants.". SEC. 109. PROHIBITED TRANSACTIONS. Section 4c of the Commodity Exchange Act (7 U.S.C. 6c) is amended by striking "SEC. 4C." and all that follows through subsection (a) and inserting the following: "SEC. 4c. PROHIBITED TRANSACTIONS. "(a) IN GENERAL. — "(1) PROHIBITION.— It shall be unlawful for any person to offer to enter into, enter into, or confirm the execution of a transaction described in paragraph (2) involving the purchase or sale of any commodity for future delivery (or any option on such a transaction or option on a commodity) if the transaction is used or may be used to— "(A) hedge any transaction in interstate commerce in the commodity or the product or byproduct of the commodity; "(B) determine the price basis of any such transaction in interstate commerce in the commodity; or "(C) deliver any such commodity sold, shipped, or received in interstate commerce for the execution of the transaction. "(2) TRANSACTION. —^A transaction referred to in paragraph (1) is a transaction that—
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