Regulated PII involves those requirements put forth by specific laws or regulations, and unlike contractual PII, where a violation can lead to contractual penalties, a violation of regulated PII can lead to fines or even criminal charges in some jurisdictions. PII regulations can depend on either the jurisdiction that applies to the hosting location or application or specific legislation based on the industry or type of data used.

Within a SaaS implementation, the cloud customer licenses the use of the software from the cloud provider because SaaS delivers a fully functional application to the customer. With SaaS, the cloud provider is responsible for the entire software application and any necessary infrastructure to develop, run, and maintain it.
The purchasing, development, and maintenance are fully the responsibility of the cloud provider.

Explanation
With cloud providers hosting a number of different customers, it would be impractical for them to pursue additional certifications based on the needs of a specific customer. Cloud environments are built to a common denominator to serve the greatest number of customers. Especially within a public cloud model, it is not possible or practical for a cloud provider to alter its services for specific customer demands. Resource pooling and virtualization within a cloud environment would be the same for all customers, and would not impact certifications that a cloud provider might be willing to pursue. Regulations would form the basis for certification problems and would be a reason for a cloud provider to pursue specific certifications to meet customer requirements.