Neither. When we were little we didn't do anything all that wrong, so someone would just ask us not to do whatever it was. That was it.
When we were older and DID do stuff we shouldn't do, both parents would be there for an intense lecture session, most often about how we'd disappointed them and/or how some stuff "leads to trouble" - that kind of thing.
It was very effective, I must say. I learned how to hide my wrong-doing much more effectively because of it. lol