ARSENE WENGER IN CORRECT IN SAYING WHERE IS THE FINANCIAL FAIR PLAY.?

 Arsene Wenger the Arsenal manager is very correct in saying,.In the year when the  FINANCIAL FAIR PLAY is coming into affect.Some clubs have no fear what so ever  of the consequences .
Real Madrid have spent a world record on one player Gareth Bale alone 87 million pounds a new record.. Have they sold players worth that much as well.
 Manchester City have already spent nearly 100 million pounds, and will buy Pepe for 30 million pounds.
Why is U.E.F.A sleeping. They have not said a word, nor taken any action either.
Earlier they said if clubs failed to sell and buy a player with that money , then they would be dropping points and could be banned from Champion League  action as well. They could even face trade embargo, that is they can not buy a player or even sell a player.
Even P.S.G have spent money on players like their oil money.
Mr Michael Platini will you do something. , or these rules are a very big joke indeed.