Its a spyware.There are 2 methods available to sort out this issue

Method 1

Download SpyHunter's Spyware Scanner.It automatically detects it & removes it

Download

Method 2

This is a manual method .It is bit difficult and if not used properly,u might face certain problem.

Step 1: Use Windows File Search Tool to Find regserv.exe Path

Go to Start > Search > All Files or Folders. 
In the "All or part of the the file name" section, type in " regserv.exe" file name(s). 
To get better results, select "Look in: Local Hard Drives" or "Look in: My Computer" and then click "Search" button. 
When Windows finishes your search, hover over the "In Folder" of " regserv.exe", highlight the file and copy/paste the path into the address bar. Save the file's path on your clipboard because you'll need the file path to delete regserv.exe in the following manual removal steps.

Step 2: Use Windows Task Manager to Remove regserv.exe Processes

To open the Windows Task Manager, use the combination of CTRL+ALT+DEL or CTRL+SHIFT+ESC. 
Click on the "Image Name" button to search for " regserv.exe" process by name. 
Select the " regserv.exe" process and click on the "End Process" button to kill it. 

Step 3: Detect and Delete Other regserv.exe Files 
To open the Windows Command Prompt, go to Start > Run > cmd and then press the "OK" button. 
Type in "dir /A name_of_the_folder" (for example, C:\Spyware-folder), which will display the folder's content even the hidden files.
To change directory, type in "cd name_of_the_folder". 
Once you have the file you're looking for type in del "name_of_the_file". 
To delete a file in folder, type in "del name_of_the_file". 
To delete the entire folder, type in "rmdir /S name_of_the_folder". 
Select the " regserv.exe" process and click on the "End Process" button to kill it.

source:http://www.spywareremove.com