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The independent regulator of foundation trusts was established on 5 January 2004, and it became known as Monitor from August 2004. The role of Monitor was to assess applications by NHS trusts to become NHS foundation trusts, authorise NHS trusts to become foundation trusts and oversee compliance with the terms of authorisation and intervene in the event of significant non-compliance. Monitor assessed both the financial and quality of governance of a trust at the application stage and would maintain continuous oversight of foundation trusts. The Health and Social Care Act 2012 widened Monitor’s remit and it became the sector regulator for health services in England. Monitor works closely with the Care Quality Commission (CQC), NHS England, the NHS Trust Development Authority (TDA) and Healthwatch, in addition to the Department of Health and the Competition and Markets Authority.