Any law where the penalty is a fine only exists for the poor. Any regulation where the penalty is in the millions only exists for small businesses.
I'm just not convinced by the idea that any penalty less than death isn't a penalty.
The Securities and Exchange Commission (USA) has a history of giving million-dollar fines for crimes that produced billions in profit and/or took billions away from victims. And the lack of deterrence has been reflected in the actions of the US financial industry.