It is a privilege to serve under your chairmanship, Mr Stringer, and I join others in congratulating the right hon. Member for Orkney and Shetland on securing today's debate. The minister acknowledged the role of his opposite number, the hon. Member for Hampstead and Kilburn, in championing her constituent's case over six years. He recognised that fraud damages trust between individuals and across society and is a priority for the Government, focusing on reducing vulnerabilities, catching criminals responsible, and supporting victims. He noted that Midas was founded by Mr Alistair Greig in 2006 and became an appointed representative of Sense Network Ltd in 2007, causing significant distress to individuals and families through fraudulent activities until halted by the FCA in 2014 when it included 279 members of the public who had paid £12.8 million and were owed a total of £13.6 million. The minister condemned Greig's actions unreservedly, stating that he was operating outside the authorised activities allowed under the appointed representative regime and hiding his fraudulent operation from Sense Network Ltd, which led to an FCA investigation and subsequent criminal charges resulting in 14 years imprisonment for Mr Greig in April 2020. The minister highlighted steps taken by the Treasury and FCA including a call for evidence on the regime as of December 3rd, aiming to improve public information about what activities appointed representatives are authorised to undertake. He explained that the Financial Services Compensation Scheme has paid out £9.6 million in compensation to 197 claimants by August 2020 and continues to accept claims against Midas. The FCA acknowledges prior failings of its predecessor, the FSA, in this case, and is undertaking a transformation programme to improve effectiveness. The minister concluded that the Government will continue working with regulators to protect consumers while allowing firms to operate.