For 100 years, the New York Stock Exchange (“NYSE”) has required closed-end funds (“CEFs”) to hold annual shareholder meetings – but now that basic right is under attack. The NYSE is currently trying to push through a proposal to eliminate annual elections so that CEF trustees can serve unchecked for life without any recourse for investors. I urge the U.S. Securities and Exchange Commission (“SEC”) to reject the NYSE’s proposal and protect the rights of all CEF investors. This is a decades-old idea that other CEF managers and their lobbyists have supported because it keeps investors trapped in deeply discounted funds for their own benefit. The fact that the NYSE has proposed such a rule is intolerable. When annual meetings are not held, funds trade at larger discounts and the value of investments goes down – which means investors could face billions of dollars in losses if the SEC approves this proposal.