UEFA has called on FIFA to prohibit the third-party ownership of players' transfer rights.
UEFA says it will introduce rules covering its club competitions "should FIFA not take the appropriate steps."
FIFA has said it will submit a proposal within months to its soccer committee, which is chaired by UEFA President Michel Platini.
Third-party ownership allows investors to buy a stake in a player from his club, and cash in on future transfer fees.
UEFA believes the practice distorts competition as clubs control players they could not otherwise afford and allows investors to syphon money from the game.
The practice is banned in some countries, including England and France.
It is popular with Spanish and Portuguese clubs to recruit South American players.