This model was sold on Eb*y in mid 1999.   This is where I got the picture.  As I'm not a professional Chronoswiss dealer (or anything close to that), I cannot be 100% sure of the answer.  All I have are clues.

What's wrong with it ? :

• The case : The 'normal' Régulateur case has a knurled bezel.  From the picture, this one isn't.
• The lugs : The Chronoswiss lugs are usually straight, not like this drop-tear shape.  Even the Klassic lugs don't look like that).
• The crown : Not like the original !
• The dial : The picture is bad, but I cannot see the name "Chronoswiss" on it.  The layout of the circles are wrong, and this one has a guilloché dial (the regular Régulateur has a flat dial)

Why I still doubt it's a fake :

• People who want to make easy money make fakes of Rolex, Cartier, ...  What's the point of faking a Chronoswiss ?  It's not a famous brand, and the price of the watches is "affordable" (well, kind of)
• Chronoswiss likes to produce limited editions of watches (for example 500 or 600 pieces, like the rectangular Regulateur).  These watches don't show often on the Net, and sometimes are only published in a Chronoswiss catalog.  Maybe this watch is a limited edition, or a first try at the Régulateur.
• The guilloché dial is a mystery !  The normal Régulateur doesn't have this type of dial.  So, why would someone make a guilloché dial for a fake ?

A picture of a "real" Régulateur : Compare the 2 pictures and draw your own conlusions.

 

Other models :  Cabrio / Chronograph-Chronometer / Chronometer / Delphis / Kairos / Kairos-Chronograph / Kairos Chrono Medium / Klassic-Chronograph / Lunar / Opus / Orea / Pacific / Pacific Chronograph / Pathos / Rattrapante / Regulateur / Tora / Tora-Chronograph // Others