The Premier League announced measures on Thursday that will mean top flight clubs could be docked points if they fail to comply with limits on financial losses and curbs on increases in player wages.
"No, I do not agree (with financial fair play rules) because if I'm a rich man I want to spend all my money on my team, it's my job. I do not agree with this in general," Mancini told a news conference.
Given the Italian is manager at the world's richest club, which has been pumped with exactly the kind of quickfire investment that would not be allowed under the new regulations, he can hardly be expected to love the idea of spending cuts.
"It's life," he replied when asked if clubs should be allowed to spend what they liked.
What irritates Mancini - and what he thinks needs some regulation - is the way transfer fees for players are bumped up as soon as they are courted by wealthy clubs such as City.
"Every time Manchester City moves to buy a player if this player is valued at £10 million, for Manchester City (clubs) ask £30m," he said.
"Is this correct? I think there should be other rules for this."
City's rise to the top has been bankrolled by Abu Dhabi's Sheikh Mansour bin Zayed Al Nahyan, who took over in 2008 and has spent hundreds of millions of pounds on players such as Sergio Aguero, Yaya Toure, David Silva and Carlos Tevez.
The big spending has yielded trophies with the club lifting the FA Cup in 2011 before winning the Premier League on goal difference from neighbours Manchester United last season.