Officials from the Etihad club have until today to reach agreement over a punishment with UEFA, who are believed to have put forward a fine of £50million on top of a cap on next season's Champions League squad of 21 players and a wage limit.
"You would think you accept the rules and you're in the competition or you don't accept the rules and you're not in the competition," Wenger said. "Then everybody would understand it.
"I'm a complete supporter of Financial Fair Play because every business should live within its own resources like in any other activity.
"For the punishment - it's a sophisticated punishment. I would like a more simple one that makes more sense."
The Arsenal manager hinted that UEFA are having to cloud the punishment process in order to keep one of the game's biggest clubs in their elite competition.
"There are rules," he said. "You respect them or you don't respect them. If you don't respect them you have to be punished.
"When UEFA doesn't want to kick the clubs out of the Champions League they have to find a more subtle punishment."