relief, and investor protection for investors in pandemics and major disasters, including relevant disclosures. (2) Updates The Commission shall update the guidance required under paragraph (1) as necessary to keep such guidance current. (b) Pandemic preparedness testing (1) In general Not later than the end of the 60-day period beginning on the date of enactment of this Act, and every 5 years thereafter, the Securities and Exchange Commission shall carry out testing along with the entities regulated by the Commission to determine how effectively such entities will be able to respond to a pandemic or major disaster. (2) Report After the end of each test required under paragraph (1), the Commission shall issue a report to Congress containing the results of such test and any regulatory or legislative recommendations the Commission may have to increase pandemic preparedness. (c) Major disaster defined In this section, the term major disaster means a major disaster declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5170 ), under which assistance is authorized under section 408 of such Act ( 42 U.S.C. 5174 ), or section 501 of such Act ( 42 U.S.C. 5191 ). 504. Updates of the Pandemic Influenza Plan and National Planning Frameworks (a) In general Not later than one year following the end of the Declaration of the National Emergency, the President shall ensure that the Pandemic Influenza Plan (2017 Update) and the National Planning Frameworks are updated. The Secretary of the Treasury, in consultation with the Federal financial regulators, shall provide to the President the following: (1) An assessment of the effectiveness of current plans and strategies to address the economic, financial, and monetary issues arising from a pandemic or other disaster. (2) A description of the most significant challenges to protecting the economy, the financial system, and consumers, during a pandemic or other disaster, including the specific challenges