UEFA president Aleksander Ceferin has admitted "weak" aspects of Financial Fair Play (FFP) rules require review to prevent loopholes from being exploited.
Calls for action to be taken against Manchester City and Paris Saint-Germain have made been in the wake of allegations from Der Spiegel and Mediapart that the clubs circumvented FFP spending stipulations.
Premier League champions City declined to comment on the reporting - purportedly informed by documents obtained from whistleblowers Football Leaks - adding only that "the attempt to damage the club's reputation is organised and clear".
PSG maintained that they have "always acted in absolute compliance with the laws and regulations issued by sports institutions".
Ceferin stopped short of commenting on the heavyweights in question but conceded moves must be made to address FFP vulnerabilities.
"I don't want to speak about Man City or PSG but for any club the rules have to be strong and clear," Ceferin told BBC Sport.
"We will act by the book, by the regulations.
"We know that we have to modernise. We know we have to check the rules and regulations all the time. We know that the situation in the football market is changing all the time.
"So that's also part of our thinking for the future - do we have to do something about the regulations to be more robust? Yes."
LaLiga president Javier Tebas has encouraged UEFA to impose Champions League bans on City and PSG as a means of sending a message.
Ceferin confirmed all possible deterrents had been discussed, adding: "It's the start of the debate. It's a bit premature to speak about it but we acknowledge the rules might be weak in certain points.
"Also laws in certain countries are changing all the time [and] adapting to modern times."
|Niki Lauda: Hill mourns ´remarkable´ three-time F1 champion|
|Bale named in Wales training squad amid Madrid exit speculation|
|Osasuna seal LaLiga return|
|Don´t underrate Warriors´ five straight NBA Finals – Kerr|
|Mets snap five-game losing streak|
|Warriors first team to five straight NBA Finals since 1966 Celtics|
|Green plans to fly out reporter for NBA Finals: You were good luck today|
|Three takeaways from Warriors´ sweep of Trail Blazers|
|Curry & Warriors team-mate Green make NBA playoff history|
|Warriors sweep Trail Blazers to reach NBA Finals|
|Mbappe wanted Madrid but PSG convinced him to stay – Emery|
|Pelinka: Lakers can win NBA championship next year|
|Three-time F1 champion Niki Lauda dies aged 70|
|Pochettino or Sarri for Juve? We´ll see – Lippi|
|Buccaneers release McCoy after nine seasons|
|England want to leave Europe and they´re in two finals – Mancini jokes about Brexit|
|Raptors star Leonard ´will be ready´ to face Bucks – Nurse|
|Iguodala out of Game 4 against Trail Blazers|
|Allegri inducted into Italian Football Hall of Fame|
|Steelers QB Roethlisberger ´genuinely sorry´ for Brown comments|
|Mets´ Cespedes fractures ankle in ranch accident|
|Italy remain at top table, Great Britain rally to relegate France|
|Guardiola convinced Kompany´s destined to return to Manchester City|
|Yastremska sets up Stosur clash in Strasbourg|
|Anderson stars for Lancashire on return from injury|
|Ebden and Seppi shocked in Geneva, Humbert shines at Lyon Open|
|AFC Champions League Review: Spain great Xavi ends playing career with defeat|
|Bernardo Silva makes Champions League pledge after winning Man City award|
|Henin impressed by Halep ahead of French Open defence|
|I love you, I´m out - Departing Kompany has his mic-drop moment in City´s trophy parade|
|Abelardo opts to leave post as Alaves coach|
|Magic Johnson points finger at Pelinka after Lakers power struggle|
|Junaid deletes inflammatory tweet following World Cup squad omission|
|Bosz: Champions League improves chances of keeping Brandt & Havertz|
|PSG insist Mbappe will stay despite forward´s ´new project´ comments|
|Former Salford forward Turgut hospitalised with ´severe injuries´|
|Potter takes over as Brighton and Hove Albion boss|
|Ancelotti happy at Napoli amid Juventus links|
|Hemel Stags on course for Ottawa relocation, New York club a work in progress|
|Nadal overtakes Federer´s top-10 streak|
|Omitting Wahab and Amir would have been foolish - Inzamam|
|Scotland appoint Kilmarnock boss Clarke|
|I´ll keep my place if Pogba arrives at Madrid – Kroos|
|Kroos: Madrid struggles ´normal´ after Champions League dominance|
|Pogba, Hazard and Mbappe in, Bale and Isco out? - Real Madrid set for busy close-season|
|Double amputee Monger stunned by Grand Prix de Pau triumph|
|Walter to take over Stuttgart from next season|
|Giannis expects Milwaukee to buck their ideas up after Game 3 loss|
|Bolivian FA confirms death of referee Victor Hugo Hurtado|
|Australia opener Burns leaves Lancashire for personal reasons|
|Record-breaking female driver Chadwick lands Williams development chance|
|Semedo cleared of concussion to boost Barcelona|
|Iguodala questionable for Game 4|
|Neymar should not captain Brazil at Copa America - Edmilson|
|Wahab, Amir and Asif named in final Pakistan World Cup squad|
|Bale staying at Madrid impossible as Zidane is ´not keen´ - Calderon|
|Kroos agrees Real Madrid extension to 2023|
|Gundogan to renew contract talks with Manchester City|
|Folau opts not to appeal against Rugby Australia ban, still considering options|
|Nadal clear French Open favourite – Djokovic|
|Nedved: No Juve decision amid Sarri and Inzaghi links|
|Gil Marin: We need players totally committed to Atletico|
|Gardner´s big game helps Yankees pull away from Rays|
|This is playoff basketball – Leonard on playing through injury in Raptors win|
|Second most NRL games and 99 tries – Cronk´s career in Opta numbers|
|Spieth: I´m almost back at my best|
|Three takeaways from Raptors´ key Game 3 win over Bucks|
|Trail Blazers star Lillard addresses rib injury|
|Raptors top Bucks in double-OT thriller|
|MLS Review: Nani brace lifts Orlando, Galaxy stunned by Rapids|