EMCR US – US2330511922
For the purposes of the ISA regulations, Exchange Traded Funds (ETFs) are treated as collective investment schemes. As no such schemes are authorised by the FCA in the UK, only non-UK domiciled ETFs can qualify for ISA inclusion. Schemes must either be EEA based UCITS compliant schemes which are recognised by the FCA under section 236A FSMA 2000 and admitted to the FCA’s Temporary Marketing Permissions Regime (TMPR) or EEA/non-EEA schemes which are recognised under sections 270/272 FSMA 2000.
This scheme does not appear to have the necessary FCA recognition and will not therefore qualify for ISA inclusion.
US based ETFs (in theory) could potentially qualify for ISA inclusion if the fund had been recognised by the FCA under section 272 FSMA 2000 (which would include the US) could meet the definition of a non-UCTS retail scheme. So that is the theory but the fact that we have never seen a recognised US fund suggests that there may be some reason why, in reality, a US based fund ISN’T able to acquire the necessary recognised status from the FCA.
The actual listing/trading or companies comprising the ETFs for ISA purposes, is irrelevant. It will need to be on the FCA register (i.e.. be FCA recognised) to qualify for ISA purposes (this one isn’t from what I could tell).