Subject: File No. SR-CboeBZX-2025-072
From: Frankie Mossa

Dear Sir or Madam: I'm finding it very hard to believe that there is actually a rule that if approved will eliminate closed-end fund investors' fundamental right to elect directors at annual meetings. How can there possibly be good corporate governance without annual meetings as annual meetings as the ability to elect directors at them are the main check and balance between investors the closed end fund. In addition, Eliminating mandatory annual meetings would:

• Severely diminish shareholder ability to hold directors accountable for fund management and performance.
• Destroy a key regulatory and governance mechanism that protects investor interests and fosters fiduciary responsibility.
• Increase the risk of managerial entrenchment and opacity that can harm long-term shareholder value.
• Undermine investor confidence and reduce market transparency by curtailing open dialogue between shareholders and fund boards.