Vaughan was fined his entire match fee, an estimated 5,500 pounds ($10,350), after criticising umpires Steve Bucknor and Aleem Dar for ending play early because of bad light on the second day.
The Cape Argus newspaper quoted Lloyd on Saturday as saying Vaughan's attitude at the hearing had been a significant factor in deciding his punishment.
"I would have given him a lesser fine if it were not for that, but I stopped short of banning him for the last Test," Lloyd. "I have respect for the England captain and I expected the same from him.
"If he doesn't respect me he should at least respect the position (of match referee), but he made matters worse for himself with his dismissive and rude attitude."
