Overcharging

[Phunahm]

I have a 86 150 XR2 an its over charging above 1200 rpm around 16v I tested the rectifier checked out good the stator checked out good My wire schematic shows no regulator however my engine has one at least I think its one on top of the engine with a red and yellow wire going to the rectifier....can a regulator be tested off engine? any ideas if it could still be the rectifier? could I eliminate the regulator and wire according to the schematic which shows a direct route from rectifier to battery......

[boats.net]

The regulator is what regulates the charging amps, so removing it may make it worst.