It is unconscionable to eliminate the need to hold annual meetings. As investors the board works for us. It is our right to have transparency and the ability to keep checks and balances in place so a board does not proliferate poor practices. Without having to review and report to shareholders, boards can effectively take autonomous control of investors hard earned money. Annual meetings are important to shareholders so that we can have a say in policy. A vote is a collective voice of the stakeholders. There are too many instances of boards continuing poor practices that go unchecked while they collect a paycheck at the expense of the shareholders. CEF's should be required just like any company or other entity to have full accountability and transparency to investors who have entrusted in them "everything".