Between January 2013 and April 2017, the US broker-dealer firm of Buckman, Buckman & Reid failed to establish and maintain a supervisory system and failed to establish, maintain, and enforce written supervisory procedures to achieve compliance with FINRA's suitability rule.

BBR and director Chip Buckman were held to have broken NASD Rule 3010 (for conduct before December 2014), FINRA Rule 3110 (for conduct on or after that date) and FINRA 2010. BBR has agreed to pay restitution to the customers in the total amount of $205,554, plus interest; the director is paying a fine of $20,000.

Buckman's headquarters are in Little Silver in New Jersey. It employs approximately 50 registered representatives and has two branch offices.