Saynyenoh is a member of the Professional Liability Department where she focuses on defending suits made and brought against broker-dealers, registered representatives and registers investment advisors in Financial Industry Regulatory Authority (FINRA) arbitration proceedings. She also concentrates her practice on privacy and data security matters, counseling and representing clients on different issues relative to privacy law, data breaches, intellectual property, copyright and trademark infringement.
Before joining the firm, Saynyenoh worked as an assistant district attorney where she handled cases with complex issues on appeal and presented oral arguments in front of the Superior Court of Pennsylvania.
While in law school, Saynyenoh gained ample experience in corporate law, specifically handling cases involving shareholder's derivative action as well as mergers and acquisitions. She also obtained a certificate of expertise in labor and employment law as a result of her extensive work in that area.
Thought Leadership
Case Law Alerts
FINRA Panel Orders Axos Clearing to Pay $49.2 Million to Former Worden Capital Clients
July 21, 2026
A FINRA arbitration panel ordered Axos Clearing to pay $49.2 million in compensatory damages, attorneys’ fees and costs to clients of the now defunct Worden Capital Management. In the amended statement of claim, claimants, a group of 102 individuals, asserted the following causes of action: fraud, churning, unauthorized trading, excessive trading/commissions, breach of fiduciary duty, unsuitability, breach of contract, negligence, and unjust enrichment. Claimants alleged that Axos failed to act while one of its introducing brokerage firms, Worden Capital Management, and its representatives used Claimants’ accounts as personal slush funds, engaging in alleged unsuitable and excessive trading and churning, garnering over $16 million dollars in commissions and fees while costing nearly all of the claimants out-of-pocket losses of over $12 million dollars. Axos denied the claimants’ allegations, asserted various affirmative defenses, and filed a third-party claim seeking a declaratory judgment that Worden Capital Management was responsible for the alleged damages. The FINRA arbitration panel found in favor of the claimants and awarded approximately $35.85 million in compensatory damages, $12.3 million in attorneys' fees, and roughly $72,000 in costs. Axos has challenged the ruling, filing a motion in federal court to vacate the arbitration award. The firm maintains that the arbitration process was flawed and that the award should be overturned. However, courts generally grant substantial deference to FINRA arbitration decisions, making successful challenges relatively uncommon.
Legal Updates for Securities and Investments
Congress Passes Financial Exploitation Prevention Act
July 16, 2026
On June 25, 2026, the House passed the Financial Exploitation Prevention Act of 2025 (“the Act”) by a vote of 414 to 2. The Act allows financial advisors and firms to delay suspicious transactions regarding the accounts of clients who are 65 or older, if they believe financial exploitation has occurred or is about to take place. With the advancement of technology and AI, the House’s overwhelming bipartisan passage of the Financial Exploitation Prevention Act represents an important step in strengthening the financial industry’s ability to combat the growing threat of elder financial exploitation. The Act recognizes what advisors have long known that financial professionals are often the first to detect suspicious behavior but have historically lacked clear legal authority to intervene before irreversible financial harm occurs. From the industry’s perspective, the bill accomplishes several important objectives, including the following: (1) Provides a practical “pause button” by allowing financial professionals to temporarily delay certain transaction requests when there is a reasonable belief that a senior or vulnerable adult is being financially exploited; (2) Empowers financial professionals to act by providing greater certainty that firms can act in good faith to protect clients without unnecessary legal risk; and (3) Strengthens investor protection without sacrificing client rights by allowing temporary delays based on a reasonable suspicion of exploitation, which is intended only to allow additional review and not to deny clients access to their money indefinitely. In sum, the Financial Exploitation Prevention Act will equip financial professionals with practical, carefully tailored tools to stop suspected financial exploitation before client assets are lost. By allowing firms to temporarily delay suspicious transactions under defined circumstances, Congress is recognizing the critical role advisors play as the first line of defense against increasingly sophisticated fraud schemes. The Act strikes an appropriate balance between protecting vulnerable investors and preserving individual financial autonomy, while reinforcing collaboration among advisors, families, and law enforcement to combat financial exploitation. The bill now awaits Senate action.
