LONDON, May 9, 2024
/PRNewswire/ -- CUBE, a global leader in Automated Regulatory
Intelligence (ARI) and Regulatory Change Management (RCM),
announces today its acquisition of Reg-Room, LLC ("Reg-Room"), a
leading regulatory intelligence provider serving the financial
services industry.
Founded by Nick Paraskeva and
based in New York City, Reg-Room
provides regulatory change monitoring and analysis solutions to the
financial services industry and is widely recognised for its
comprehensive and robust regulatory expertise and content with a
well-established global customer base. Its flagship products,
Reg-Track, Reg-Impact, and Regulatory Risk Report provide the
banking, broker-dealer, asset management and insurance sectors with
tailored, timely and highly accurate alerts and summaries on
crucial regulatory changes with global coverage.
Nick Paraskeva, founder of
Reg-Room, said, "We're excited to join the CUBE team and
bring our regulatory expertise to an even broader audience. Our
mission has always been to provide our customers with the tools
they need to navigate the complexities of regulatory compliance.
Together with CUBE, we're confident we can further transform the
industry."
This acquisition furthers CUBE's sector leadership in financial
services, delivering its vision to pioneer an industry-defining
regulatory compliance and risk platform and comes weeks after
CUBE's partnership announcement with Hg, a leading investor in
European and transatlantic software and services providers.
Reg-Room's expertly curated regulatory summaries and analysis
combined with CUBE's comprehensive content, technology and AI
platform creates an unparalleled capability for financial firms
across the globe, providing industry-leading automation,
high-quality regulatory content, and enhanced customer value
through a unified proposition.
Ben Richmond, founder and CEO
of CUBE, said, "CUBE's focus on technology, content and AI
to deliver a regulatory compliance and risk platform that is truly
transformative for customers is at the core of this - and all of –
our acquisitions. When we looked at the sector for highly
complementary providers, Reg-Room clearly stood out with its
industry-leading client retention, innovative solutions, and
exceptionally high quality proprietary regulatory summaries,
supported by a global team of regulatory experts. Combine this with
CUBE's RegPlatform and RegBrain AI automation and it makes for a
compelling proposition. Together, we are primed to set new
standards of excellence in regulatory compliance."
Christopher Fielding, Partner
at Hg, commented: "The significant investment Nick and the team
have made in their products and people will continue to propel our
vision for accelerated innovation and premium quality relevant
regulatory content. We are incredibly excited about the
opportunities this presents in delivering transformative regulatory
capabilities to customers worldwide."
Thomas Martin, Principal at
Hg, added: "We welcome Nick and the team as we continue to
build a leading provider of regulatory intelligence for financial
institutions across the globe."
The terms of the transaction have not been disclosed.
About CUBE
CUBE provides a highly comprehensive and robust source of
classified, and meaningful AI-driven regulatory data to power its
Automated Regulatory Intelligence (ARI) and Regulatory Change
Management (RCM) solutions. CUBE's purpose-built regulatory
technology including its AI engine (RegBrain) and software platform
(RegPlatform) tracks, analyses, and monitors laws, rules, and
regulations in every country and in every published language to
create an always up-to-date regulatory footprint that transforms
visibility and compliance capability for customers across the
globe.
With operations across Europe,
North America, Canada, Asia,
and Australia, CUBE serves a
diverse and global base of customers and partners including the
largest financial institutions in the world who leverage CUBE's
platform to streamline their complex regulatory intelligence and
change management processes.
About Hg
Hg supports the building of sector-leading enterprises that
supply businesses with critical software applications or workflow
services, delivering a more automated workplace for their
customers.
This industry is characterised by digitisation trends that are
in early stages of adoption and are set to transform the workplace
for professionals over decades to come. Hg's support combines deep
end-market knowledge with world class operational resources,
together providing compelling support to entrepreneurial leaders
looking to scale their business – businesses that are well
invested, enduring and serve their customers well.
With a vast European network and strong presence across
North America, Hg's 400 employees
and $65 billion in funds under
management support a portfolio of around 50 businesses, worth over
$140 billion aggregate enterprise
value, with over 110,000 employees, consistently growing revenues
at more than 20%.
About Reg-Room
Reg-Room, LLC provides regulatory information services
monitoring to the financial services industry in the US and
internationally.
Key products include Reg-Track and the Regulatory Risk Report
newsletter which provide tailored and concise information on the
fast changing regulatory environment, as well as the Reg-Impact
compliance management solution.
The principal of Reg-Room LLC is Nick
Paraskeva, who has forty years' experience in Compliance and
Regulation.
Nick founded Reg-Room after eleven years at Citigroup, where he
was senior Vice president of Global Regulatory Risk in New York. He gained international expertise as
Head of International Capital Policy at the UK SFA, the predecessor
to the current FCA and PRA. Nick managed European regulatory issues
at Salomon Brothers UK office before moving to their New York office in 1997.
Reg-Room is based in New York
City.
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