Current Event Rules works as follows (and we are talking about faction pure here)
120 points per fleet (basic)
Min 3 ships per fleet
Fighters (retail or resource) are 0-1 choice
120 Points: Borg, Dominion, Fed, Klingon, Romulan
130 Points: Mirror, Khan Singh**, Kazon, Species
140 Points: Hirogen, Bajoran, Xindi
150 Points: Vulcan, Ferengi, Independents
Resource Comp:
Officer Exchange Programme is not permitted
Reinforcements can not use upgrades from other factions
Borg, Dominion, Fed, Klingon, Romulan may not take any of the independent flagship resources
**Any Indy Fleet that use the Captain Khan Singh (USS Reliant version) is capped at 130pts