Ring about name of punishment (5)

I believe the answer is:

penal

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'of punishment' is the definition.
(I've seen this before)

'ring about name' is the wordplay.
'ring about' becomes 'pen' (I can't explain this - if you can you should believe this answer much more).
'name' becomes 'Al'.
'pen'+'al'='PENAL'

Can you help me to learn more?

(Other definitions for penal that I've seen before include "Deliberately unpleasant" , "Punishable by law" , "Punitive" , "Relating to legal punishment" , "Very severe" .)

I've seen this clue in The Telegraph.

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