Hearts were hit with an automatic player registration embargo and 15-point penalty under what were then Scottish Premier League rules as they went into administration on June 20.
But they could face further punishment under SFA rules when their rescheduled disciplinary hearing takes place at Hampden.
Locke, whose team kick off their Scottish Premiership survival bid at St Johnstone on Sunday, said: "We have got a 15-point deduction and theoretically we have close to an under-20 squad.
"So we have certainly been punished enough as far as I'm concerned.
"But at the end of the day we have done things that deserve to be punished.
"We have to take it on the chin. I hope we get some common sense and they can just let us crack on."
In a similar hearing last year, Rangers, before they went into liquidation, were hit with a heavy fine and one-year transfer ban, the latter of which transferred to the newco club when they assumed the SFA membership.
That punishment came mainly as a result of former owner Craig Whyte's decision to withhold tax payments of about £13million.
An administrators' report yesterday revealed that Hearts, whose Lithuanian directors have left the club, owe Her Majesty's Revenue and Customs £1.9million.
Locke said: "The people who ran the club and made it difficult for us, they are not here any more.
"We are trying to build the club back up. Supporters are doing their bit, I'm trying to do my bit, players are doing their bit, everyone that works behind the scenes is trying their best.
"Hopefully we get today over and done with and look forward as a football club.
"That's all we want, we want to move on and try to compete at the top level of Scottish football, which is where we expect to be."