I am an individual investor, elderly, and purchase Closed End Funds, as part of a diversification strategy. I purchase Cefs in large part to benefit from the closing of the discount, often prompted by the election of non insider candidates. It is a shame that Cef boards allow the discounts to persist instead of seeking the best results for shareholders, as is their fiduciary duty. The proposed rule is just a means for lazy board members to wallow and collect fees for doing little to the detriment of shareholders, for whom they owe a duty of diligence. Shareholders have a right to hold board members accountable. Boards will only become further entrenched if the proposed rule is adopted. Board members do your jobs and then you won’t have to worry about elections!