Richard Panno Allegedly Failed to Supervise

Richard Panno (CRD#: 724727), a broker registered with Buckman, Buckman & Reid, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on September 14, 2025. Keep reading if you have questions regarding his alleged conduct. 

Investor Disputes

On June 5, 2025, Richard Panno allegedly failed to supervise. The investor is seeking $2,250,000. 

On July 31, 2017, an investor alleged that Richard Panno made poor recommendations. The investor is seeking $131,549. 

Failure to Supervise: FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. This includes appointing supervisors and providing them with Written Supervisory Procedures (WSPs).

Unsuitable Investments: FINRA 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable.

Background Information 

Richard Panno has passed the following exams: 

• Series 14 Compliance Officer Examination 
• Series 53 Municipal Securities Principal Examination 
• Series 24 General Securities Principal Examination 
• Series 27 Financial and Operations Principal Examination 
• Series 4 Registered Options Principal Examination 
• Series 57TO Securities Trader Exam 
• Series 99TO Operations Professional Examination 
• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 3 National Commodity Futures Examination 
• Series 55 Limited Representative-Equity Trader Exam 
• Series 7 General Securities Representative Examination

He is a registered broker in 41 states, D.C., and the Virgin Islands. 

Richard Panno has registered with the following firms: 

• Buckman, Buckman & Reid (CRD #: 23407) 
• VFinance Investments (CRD #: 44962) 
• Brookstreet Securities Corporation (CRD #: 14667) 
• Avalon Research Group (CRD #: 39815) 
• Sterling Financial Investment Group (CRD #: 41506) 

Kurta Law Can Help

If you worked with Richard Panno and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.