This is a false positive and nothing to be concerned about, it's Ubisofts Product Registration application (used on most Ubi games EG GR, Myst III, Splinter-cell Etc). It launches the "Register Now" application.

Paranoid users can easily remove the entry before it even launches by simply removing its start-up entry from HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows\ CurrentVersion\Run

Microsoft Entry.

Program:Win32/PowerRegScheduler (?)

Encyclopedia entry
Updated: Nov 10, 2010 | Published: Jul 16, 2006

Aliases
Not available

Alert Level (?)
Moderate

Summary
PowerRegScheduler is a product registration system used by some legitimate software programs. It collects demographic data for vendors who use PowerRegScheduler as a product registration reminder. PowerRegScheduler collects data such as your name, address, e-mail, place of purchase, product serial number, etc. This data is transmitted to PowerRegScheduler servers and is then made available to the manufacturer of the purchased product.

PowerRegScheduler may remain on the computer after the product registration task has been completed.