Most embryonic stem cells come from blastospheres that were discarded by in-vitro fertilization procedures. I'm not aware of
anyone that harvests hESC from aborted fetuses.
Adult stem cells do exist, but they're less effective because of telomere reduction and (usually) more mutation. There is some research being done in reverse engineering pluripotent cells into stem (totipotent) cells.
In the USA (where I'm most familiar with), the NIH has most of the guidelines posted at the relevant resource page
here.
As of 2009, it is now legal (in the USA) to create embryos for research, using donated materials. Properly speaking, since they are harvested in the 8- or 16-cell stage, they aren't "fetuses", but rather "embryos".