In this issue:

- SEC Issues Proposal Regarding Cross-Border Security-Based Swap Activities

- CFTC Staff Issues No-Action Letters

- Delaware Court Dismisses Securities Fraud Action Against Power Plant Executives

- Gaming Company’s Regulatory Delays Insufficient to Give Rise to a Securities Fraud Claim

- Excerpt from: CFTC Staff Issues No-Action Letters

Commodity Futures Trading Commission staff recently released two no-action letters providing relief relating to the application of business conduct standards to prime brokers and swap dealers and disclosure of pre-trade mid-market mark with respect to certain transactions.