The decision by the Securities and Exchange Commission to allow investment firms to provide annual reports and proxy-voting materials online might encourage closed-end-fund activists to wage more proxy-voting wars to open funds and to contest board elections or new advisory contracts, The Wall Street Journal reports. This is a possible scenario, since proxy fights by closed-end funds are becoming more commonplace.

"There are potential savings and costs that may make a proxy fight a little more appealing," said Bruce Goldfarb, senior managing director and general counselor for Georgeson Shareholder Communications Inc.

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