Hydraulic pressure too high at regulator valve mounting plate?

Have a 695 case IH 4 wheel drive tractor that is blowing hydraulic oil out right side of tractor. It is coming out at regulator valve mounting plate as it has enough pressure to blow out one of the gaskets. Regulator valve has been taken apart and believe it working correctly. All lines have been tested. Too much pressure at plate. What is the problem? How can it be fixed?