On February 24th, SEC Chairman Mary L. Schapiro discussed developments at the SEC, including new disclosure requirements, examination programs, enforcement targets, and Dodd-Frank Act implementation. Addressing mutual fund money market reforms, Schapiro stated that investors have been lulled into a false sense of security, which requires changes. She emphasized that the steps taken to stop the "run on the bank" which occurred after the Reserve Primary Fund's net asset value fell below one dollar cannot be replicated. Schapiro implied that structural changes in the form of either floating net asset values and/or capital requirements, combined with limitations or fees on redemptions, are inevitable. Schapiro Remarks.