ISA Status Changes Due To HMRC ISA Criteria

Hi, I was wondering if any insight could be shed on why tickers HLZ and ETC (small caps listed on Spanish exchange) are no longer deemed to meet HMRC ISA criteria? I’m not here to complain, as much as i would’ve liked to keep my ISA investment in them, but I kust want to understand the reasoning somewhat :grinning:.

Commonality is both are listed on the smaller Spanish market - BME Growth

That’s about the only linkage I can find

Might be something to do with that

This is what it boils down to. While the 4 Major Spanish Exchanges - Madrid, Barcelona, Bilbao and Valencia are recognised by HMRC, the BME Growth Market is not part of those exchanges and is treated as a separate facility. In fact, BME is not a standard exchange but rather a company operating the 4 Major Spanish Exchanges.

Therefore, since the segment is not named in the ISA guidelines for the recognized exchanges, we’ve determined that the instruments traded there are ISA-ineligible.


I thought it was related to BME Growth, just wanted to know if that was going to be generalised across all BME Growth instruments. So thanks for clearing that up!

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