Benzinga | Jan 24, 2022 11:27AM EST

Here's Why Apple Is Liable To Pay Regulatory Fine Of 5M

* Apple Inc (NASDAQ:AAPL) failed to comply with the requirements set by the Netherlands Authority for Consumers and Markets (ACM) regarding payment systems for dating-app providers.

* The decision follows an investigation into Apple's statements of January 15, 2022.

* Apple now has to pay ACM the first penalty payment of (euro)5 million.

* Related Content: Here's Why Cowen Remains Optimistic On Apple

* The penalty could extend to a maximum of (euro)50 million, if Apple did not act by the said order.

* Apple needs to allow dating-app providers to use payment systems other than Apple's payment system in the App Store.

* Additionally, dating-app providers should have the ability to refer to payment systems outside of the app.

* Price Action: AAPL shares traded lower by 2.73% at $158.05 on the last check Monday.