No, not ANY regulation, it's subject to certain exceptions. I would imagine they are unable to veto anything that would compromise safety, but that just my thought....
Here's a little more evidence of their power of veto with some actual wording from the document.............
If you have ever wondered whether Ferrari really does get paid more than any other team then the prospectus is the place to look. Ditto if you want to know whether Ferrari has a veto over F1's regulations. In fact, the prospectus reveals that Ferrari's influence over F1 stretches so far that it even has first refusal on supplying cars to race in the sport's support series if the Porsche Supercup ever vacates this place. It may sound like biased behaviour but there is good reason for Ferrari's preferential treatment.
The big news is on page 179 of the prospectus which covers the terms of the teams' contracts to race in F1. It states that "in respect of Ferrari only, Ferrari may terminate if the regulatory safeguards agreed between the FIA and Ferrari do not allow Ferrari to veto any change to the regulations already announced or introduced (subject to certain exceptions)."
It doesn't get much more blunt than that: if Ferrari doesn't like the regulations then it can change them and it is the only team in F1 that has this power. But there's more - the prospectus, and reports by financial analysts, also reveal that Ferrari gets more prize money than any other team.
You can read the whole article here
http://www.pitpass.com/48762/Confirmed- ... egulations