Quebec's financial regulator fines Apple Canada $175,000 for offering insurance-like AppleCare+ Plan without authorization.
Quebec's financial regulator says Apple Canada Inc. has agreed to pay a $175,000 penalty after an investigation into its AppleCare+ Plan. The Autorité des marchés financiers found the plan's terms constitute insurance as the covered risk is not limited to device defects or malfunction. Apple has agreed to ensure that the AppleCare+ Plan will be offered by an authorized insurer in Quebec, and the AMF will protect existing contracts or those entered during the standardization process.
June 14, 2024
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