''Everyone was disappointed in his comments and I've expressed that to him myself," Smith said today.
''One of our values is respect, having respect for team mates, opposition, fans and media and I thought what he said was very disrespectful to a team mate and his Victorian captain. The leadership group got together decided to fine Glenn.
''We thought that was sufficient punishment."
New Zealand captain Kane Williamson didn't buy into the issue.
''It probably gets blown up maybe by you guys," he grinned.
''Perhaps 'Maxy' didn't say exactly what he wanted to and that's the way it goes. But they'll very much be focused on the game as we are."
Maxwell has form for contentious conduct in the past.
Early this year it transpired he'd tried to leave Victoria to defect to New South Wales, only to be told the transfer deadline had passed.
New Zealanders will recall his choking pose to the crowd as wickets tumbled in the pool game at last year's World Cup at Eden Park.
Then there was his stepping away and leaving a ball which cannoned into his stumps in the Big Bash League.
He's a polarising figure, but not without his fans for the flair he brings with the bat.
Smith said Wade and Maxwell have spoken since the comments.
''(Wade) was disappointed but we've moved on and it's about focusing on the game tomorrow and hopefully starting this series well."
Smith said Maxwell was ''a little bit shattered with what he said.
''I don't think he thought the words came out the way they did."
Maxwell is available for selection today. But you'd pick the Big Show may be a No Show at the SCG.