Under new proposals, money from all transfers would also be cleared through the FA in a bid to monitor who exactly receives the cash.

"The English FA is looking very carefully at how to discipline agents," said Arsenal and FA vice-chairman David Dein.

"There has to be a system where all monies from transfers are routed through the national associations.

"The association has to be satisfied with the role of the agent. Who is being paid? Are any other parties being paid by the agent?

"We hope within the next few months to produce a document which will be a prototype for the rest of Europe.

"It will be a legally-binding document, as agents get commission every time a player moves.

"My concept is that the transfer only proceeds when the FA and Premier League are satisfied."

Arsenal already operate their own system, brought into place after Nicolas Anelka moved from Arsenal 18 months ago.

Holy bible

Anelka's brothers offered the striker's services to several clubs before the Gunners were eventually forced to sell him to Real Madrid for �23m.

"At Arsenal we produce a paper which every agent has to sign where it binds him that he cannot take the player anywhere else or offer them around without our permission," said Dein.

"Believe it or not, I make the agent swear on the holy bible."

Dein believes the new rules could be in place for the start of next season and that they will be even more important when the changes to the transfer system are agreed.

"Whatever happens, players will move more than they can do now and we need to protect the integrity of the industry," he said.

Managers' Union chief John Barnwell has welcomed the FA's move towards limiting the powers of agents.

Barnwell is concerned there are some shady agents who actively work to undermine clubs' hold over players in order to engineer their clients' next big money move.

"The manner in which agents are allowed to 'work' in the game is often just unacceptable," said the League Managers' Association supremo.

"It is so often a ridiculous state of affairs. Some agents actually work at destabilising players as soon as they sign a contract with a club."

Leading agent Eric Hall said there was "no chance" of the new system being introduced.

"If I'm an actor in the West End I want someone to find me the best play and the best deal - it's the same with footballers," said Hall.

"My job as a football agent is to make managers and chairmen of football clubs aware that such and such a player, who scored 87 goals last season or whatever, is available and it's my job to get the best deal for him."