Regulatory intelligence firm Cube has acquired US-based Reg-Room as part of a strategy to consolidate the regulatory technology market.
Founded by Nick Paraskeva and located in New York City, Reg-Room specializes in regulatory change monitoring and analysis for the financial services industry. Its flagship offerings—Reg-Track, Reg-Impact, and the Regulatory Risk Report—provide banking, broker-dealer, asset management, and insurance sectors with customized alerts and summaries regarding significant regulatory changes on a global scale.
The acquisition of Reg-Room follows Cube’s purchase of AI-driven data capture firm The Hub in January. Ben Richmond, founder and CEO of Cube, noted, “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.”
Since its inception during the 2008 financial crisis, Cube has monitored 5,000 issuing bodies across 180 jurisdictions, assisting financial institutions in streamlining their complex regulatory change management and compliance processes. In the autumn, the firm received an investment from Bregal Milestone to expand its geographical reach and enhance its platform through complementary market partnerships. Cube was subsequently acquired in March by European investor Hg, which aims to broaden its global presence through both organic growth and acquisitions.
Thomas Martin, principal at Hg, commented, “We welcome Nick and the team as we continue to build a leading provider of regulatory intelligence for financial institutions across the globe.”