WASHINGTON — A complete review of merchant banking regulations will be Rep. Richard Baker’s first order of business as chairman of the House Financial Services Committee’s most expansive subcommittee, the Louisiana Republican said Thursday.

In a news conference announcing the agenda and timeline for his panel, which has jurisdiction over capital markets, insurance, securities, and government-sponsored enterprises, Rep. Baker said he will hold hearings as soon as possible on the Federal Reserve Board’s proposed capital requirements for merchant banking activities and on a recent rule issued jointly by the Fed and the Treasury Department that sets other limits on equity investments.

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