The measures agreed on Thursday mean English top flight clubs could be docked points if they fail to comply with limits on financial losses and curbs on increases in player wages.
"It's all good in theory but the application of it will always be difficult. If people have money to burn they can place it anywhere in the world," Ferguson told a news conference.
"I'll be interested to see how they think they can operate it. It would be good if it was applicable but I have got my doubts. I think it's always going to be problem to try to enforce it."
The Premier League's rules are less stringent than UEFA's Financial Fair Play rules which will force top clubs from all leagues across Europe to move towards breakeven or face exclusion from continental competition.
"I personally am for financial fair play in the way that companies and the clubs respect to manage the club with their own resources," the Frenchman told a news conference.
"For the rest, I am for freedom, how you use your resources inside the club. I am not in favour of a Brussels-type of society controlled from centralised, complicated rules. I believe every company should live within its own resources.
"For the rest, leave it to the company to manage their company how they want to do it."
"If UEFA is doing the same, I think it's good," he said. "At the end of the day, you do things in the right way, it will be positive. Stability of the clubs is a key issue.
"The experience in Spain, for example, now with loans and they go to administration and it's a big mess. If you can avoid these things then I think it's much better."
"We have to have competition. We have to make sure we give everyone the chance to compete," he told a news conference.
"I think we have to be careful that we don't stop people coming into the game who could help to push the game forward.
"I want to be given every opportunity to try to get to the top of the league with Everton. I hope this won't stop me doing that."
