In June 2024, the Financial Sector Conduct Authority (FSCA) issued a media release informing the public that it had registered an investigation into Astrix Data (Pty) Ltd (Astrix Data), Vector Financial Services (Pty) Ltd and Finbok, following complaints received from members of the public. The investigation is at an advanced stage.
The FSCA has been informed by Astrix Data that it has changed its name and is now operating as IGM Financial Services (Pty) Ltd. According to the Companies and Intellectual Property Commission’s (CIPC) records, the entity’s name first changed from Astrix Data to Itrade Group (Pty) Ltd on 5 February 2026, and on 4 March 2026, a further name change to IGM Financial Services (Pty) Ltd was effected.
While the FSCA does not approve company name changes, the Authority has noted the change and updated its records.
The name change has no bearing on the ongoing investigation. In light of the sensitivity of the matters under consideration, and to preserve the integrity of the investigative process, the FSCA is limited in the detail it can disclose about the investigation at this stage.
An update will be issued in due course regarding the outcome of the investigation and any regulatory decision that may be taken.