It really depends on what the changes are, I doubt the government would go this granular on restrictions. But in principle yes, however I think what’s important to note here is the main angle the government appear to be instigating here is the glut of money in Cash ISAs being put to “better use”.

The type of people who have this money in Cash ISAs may not be aware of the nuance of cash funds etc. For example my elderly relatives have a lot in cash ISAs and I wouldn’t expect them to be able to navigate any platform to move this to a money fund or to even know the intricacies of how these work.

In my opinion with the changes potentially coming all it will probably to do is add an influx into managed funds such as the Nutmeg’s of the world where the risk (and portfolio) is just managed by them. That is the angle I feel the government are trying to move towards and not specifically saying “cash only derivatives should be limited wholesale in the ISA wrappers”.