LONDON (AP) — Britain's financial regulator says it is taking steps to force HSBC to improve its legal compliance after the bank agreed to pay $1.9 billon to settle a U.S. money laundering probe.

The Financial Services Authority said Tuesday that HSBC must establish a board committee with a mandate to oversee matters relating to anti-money laundering and terrorist financing.

It also said it has required HSBC to appoint a group money laundering officer approved by the regulator to ensure that the company complies with all anti-money laundering requirements.

HSBC agreed to a record settlement with U.S. authorities on Tuesday over a probe in connection with the laundering of money from drug traffickers in Mexico.

The U.S. government also alleges that HSBC intentionally allowed prohibited transactions with Iran, Libya, Sudan and Burma.