(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) or swap 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— (A) (i)is, of the character of, or is commonly known to the trade as, a “wash sale” or “accommodation trade”; or (ii)is a fictitious sale; or (B)is used to cause any price to be reported, registered, or recorded that is not a true and bona fide price.

The text asserts Sufficient Conditions for the truth of:

It is unlawful for any person to offer to enter into, enter into, or confirm the execution of a prohibited transaction. ▼