Public.com limits its financial responsibility to you for most types of harm, including investment losses resulting from platform errors, data loss, or inability to access the service.
This analysis describes what Public.com's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
If a platform outage, error, or data issue causes you to miss a trade or lose access to your account at a critical moment, this clause limits what you can recover from Public.com even if the failure was their fault.
Interpretive note: The clause includes a 'to the maximum extent permitted by applicable law' qualifier, meaning enforceability varies by jurisdiction and by claim type, particularly for claims arising from regulated broker-dealer activities where statutory duties may not be waivable by contract.
Users who suffer financial losses due to platform downtime, trading errors, or service disruptions may be limited in what damages they can recover from Public.com, even where the platform bears responsibility for the issue.
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"TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL PUBLIC, ITS AFFILIATES, AGENTS, DIRECTORS, EMPLOYEES, SUPPLIERS OR LICENSORS BE LIABLE FOR ANY INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES, ARISING OUT OF OR RELATING TO THE USE OF, OR INABILITY TO USE, THIS SERVICE.— Excerpt from Public.com's Public.com Terms of Service
REGULATORY LANDSCAPE: Limitation of liability clauses in investment platform agreements may require evaluation under FINRA and SEC rules governing broker-dealer obligations to customers, which impose baseline duties of care that may not be fully waivable by contract. State consumer protection statutes in California and New York may limit the enforceability of blanket consequential damages exclusions in consumer financial services contracts. The FTC Act's unfairness doctrine may also be relevant where limitations are applied in ways that cause substantial consumer injury. GOVERNANCE EXPOSURE: High. For a platform holding investment assets, the exclusion of consequential damages including loss of profits creates significant exposure for users who experience trading losses or missed opportunities due to service failures. Courts have at times found such clauses unenforceable in the financial services context where regulatory duties impose non-waivable obligations on broker-dealers. JURISDICTION FLAGS: Several US states limit the enforceability of consequential damages exclusions in consumer contracts, particularly where the loss is foreseeable and the exclusion is deemed unconscionable. The 'to the maximum extent permitted by applicable law' qualifier in the clause acknowledges that some limitations may not be enforceable in all jurisdictions. EU and UK consumer protection law generally prohibits terms that exclude liability for trader negligence causing consumer loss. CONTRACT AND VENDOR IMPLICATIONS: API and institutional partners who rely on platform uptime and trading execution should assess whether this limitation of liability is consistent with their own customer-facing obligations and whether additional contractual protections or SLA commitments are available. Indemnification provisions should be reviewed in conjunction with this clause to understand the full liability profile. COMPLIANCE CONSIDERATIONS: Legal teams should assess whether the limitation of liability, as applied to regulated broker-dealer activities, is consistent with FINRA and SEC rules on customer protection and whether any non-waivable statutory rights effectively supersede the contractual cap for certain claim types. Documentation of service level standards and incident response procedures should be reviewed to ensure they are consistent with regulatory obligations independent of the contractual limitation.
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If a platform outage, error, or data issue causes you to miss a trade or lose access to your account at a critical moment, this clause limits what you can recover from Public.com even if the failure was their fault.
Users who suffer financial losses due to platform downtime, trading errors, or service disruptions may be limited in what damages they can recover from Public.com, even where the platform bears responsibility for the issue.
ConductAtlas has identified this type of provision across 265 platforms. See the full comparison.
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