Waddell & Reed Financial said on Monday it has appointed Terry L. Lister chief regulatory officer of its two broker/dealerf subsidiaries, Waddell & Reed and Ivy Funds Distributor.

As CRO for both distributors, Lister is responsible for overseeing the compliance process for Waddell & Reed's proprietary sales channel and its wholesaling operations. He will be involved at a senior level in sales suitability oversight, the interpretation and application of securities regulations and will provide recommendations as to the makeup and implementation of compliance and risk management programs.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.