The Frenchman has made it clear that there will be tough sanctions for those who don't comply with the rules, but is unsure whether bans will ensue
The European governing body’s Club Financial Control Body (CFCB) met earier this month to investigate a swathe of cases relating to possible breaches, with the two heavyweights believed to be among the total 76 clubs under the spotlight.
CFCB will announce its findings in early May, but Platini has admitted he is not expecting PSG and City to be expelled from European competitions.
"The first decisions will be announced in early May, but you will be disappointed if you are looking for blood and tears. There will be tough sanctions but I believe there will be no exclusions from European competitions," Platini told Le Parisien.
"It's not my job to talk about individual clubs, but let's say that PSG have a rather unique and atypical economic model. Their contract with QTA is innovative to say the least. It is up to the experts to say whether it is valid, though.
"I don't know whether PSG comply with FFP. I know that there was no problem in France, but the rules are different domestically."
Platini was the mastermind behind the introduction of the FFP system, but the former France international has no input on the final decisions made regarding punishments for breaches.