Accountability hearing with Monitor (2012)

1. Monitor was established in 2004 as the Independent Regulator of NHS Foundation Trusts (FTs – a new type of autonomous NHS provider organisation, introduced in 2004). In that capacity, Monitor has had the role of authorising and then regulating FTs, ensuring that they are legally constituted, financially robust and well-led (in terms of both service quality and their finances), with Boards that operate effectively.

2. Monitor’s current primary statutory responsibilities are as follows:

• assessing applications for FT status and authorising successful applicants;
• designing and operating the regulatory regime to ensure that FTs are financially robust and well governed;
• taking action if there is evidence that an FT is in significant breach of the conditions Monitor sets for the way it operates;
• reporting on the performance of the FT sector and providing details of regulatory action taken;
• taking and enforcing decisions on matters concerning the NHS’s Principles and Rules for Co-operation and Competition within the FT sector;
• supporting the FT sector to operate effectively, efficiently and economically; and
• setting the reporting requirements for FTs.