Investors grapple with global tax "new norms"

Asset managers have been overwhelmed by the amount of operational changes they have to understand and implement in a short time-period related to multiple US and European regulations, say JP Morgan executives. Most fund executives accept these regulations are here to stay, even though at face value many of the changes do not provide immediate value or benefit for their investments, says Laurence Bailey, Asia-Pacific head of investor services at the US bank. Rules that combat tax…