UPDATE 1-U.S. says HSBC must do more to improve compliance

April 1, 2015 9:47 PM

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NEW YORK, April 1 (Reuters) - HSBC Holdings Plc is making progress toward cleaning up its operations, after reaching a $1.92 billion settlement of charges related to money laundering, but has not done enough, the U.S. Department of Justice said on Wednesday.

The government made its criticisms after reviewing findings of an independent monitor, Michael Cherkasky, who was appointed in connection with HSBC's so-called deferred prosecution agreement with U.S. authorities.

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