Logo of JPMorgan Chase & Co. [File Photo: cpd.com]

Hong Kong's securities watchdog has fined JPMorgan nearly 4 million US dollars for a range of control failures, including breaches in its dark pool business.

JPMorgan is the latest institution to suffer a crackdown by the Securities and Futures Commission on electronic trading and dark pools in Hong Kong.

The SFC says JPMorgan's Hong Kong business mistakenly routed principal orders into its off-exchange dark pool trading platform.

Control failures also led the bank's brokerage and securities units to breach the rules governing how short sale trades are aggregated and documented.

The SFC has also found that 14 principal traders had been given incorrect access rights allowing them to see client orders.