Numerous regulatory developments were enacted or proposed in the United States and the European Union in response to the financial crisis. Although some of the proposed changes are still in the process of being adopted or implemented in the U.S. (e.g., protections against conflicts of interest in certain securitization that have been in consideration since 2011) the new regulatory framework applicable to securitizations appears largely settled for the time being. In the EU the adoption of final rules regarding simple, transparent and standardized securitizations will mark a key milestone in the development of a new European securitization framework.