Monitor's regulatory principles
The following principles shape Monitor’s approach to regulation:
- self-regulation: Boards of directors are responsible for ensuring that NHS foundation trusts comply with their trust's terms of authorisation and statutory obligations at all times;
- proportionality: Monitor takes a risk-based approach to regulation, intervening only when necessary. The intensity of its monitoring of an NHS foundation trust is guided by the risk of a significant breach of a foundation trust’s terms of authorisation;
- transparency: Monitor uses a transparent method for assessing risks to compliance, as set out in the Compliance Framework;
- trust-based approach: Monitor expects NHS foundation trusts to disclose issues speedily and candidly. Monitor will seek to provide collaborative support in resolving issues before considering intervention;
- confidentiality: Monitor will not disclose confidential information without prior agreement (unless it has a statutory obligation to do so);
- minimal duplication of regulation: Monitor will not usually act where other bodies have a lead regulatory role unless they have exhausted their powers and an NHS foundation trust still risks a breach of its terms of authorisation; and
- minimal information requirements: Monitor aims to minimise the information requirements it places on NHS foundation trusts. Its requirements should in any case be a sub-set of the information which a board requires to discharge its functions effectively.
