; and (3) disclose whether the board of directors of the covered issuer (or the equivalent body with respect to the covered issuer), under the laws of the jurisdiction in which the covered issuer is incorporated or otherwise organized— (A) owes a fiduciary duty to the covered issuer and shareholders of the covered issuer; and (B) is subject to heightened scrutiny with respect to conflicted controller transactions. (c) Updates to rules Not later than 1 year after the date of enactment of this Act, the Commission shall make any updates to the rules of the Commission that are necessary as a result of this section.