Kieren Fallon will not be allowed to continue riding in Britain after being charged as part of a police investigation into alleged race-fixing.
Fellow jockeys Fergal Lynch and Darren Williams, who have also been charged with conspiracy to defraud Betfair customers, will also not be allowed to ride in Britain until after the result of any trial.
The three riders this morning appeared before a special panel at the British Horseracing Regulatory Authority's Headquarters on Shaftesbury Avenue.
Fallon, Williams and Lynch were three of 11 people charged by the City Of London Police on Monday.
Trainer Alan Berry is the other individual licensed by the HRA to have been charged.
Berry was allowed to continue to train after Tuesday's hearing at the HRA permitted the Lancashire handler to carry on sending out runners from his Cockerham base.
The HRA's special panel decided a ban would be "disproportionate" for Berry as any trial is not likely to begin before the spring of 2007.
However, today's hearing found that Fallon should be prohibited from riding in Britain on his Irish licence "until the conclusion of the trial or further orders".
The HRA panel's decision means Fallon will miss out on his ride in Saturday's Coral-Eclipse at Sandown, where he was set to partner the Aidan O'Brien-trained Aussie Rules.
The panel, chaired by HRA board director Sir Michael Connell, also found that Lynch and Williams should not be granted licences "until the conclusion of their trial or further orders".
In a statement issued on Fallon's behalf by his solicitors, BCL Burton Copeland, the rider said: "I am obviously devastated by the HRA decision.
"I always thought that a man was innocent until proved guilty.
"I cannot understand this decision as I am confident that I have done nothing wrong, and my lawyers are confident that the case against me has no validity whatsoever.
"In fact I am utterly amazed the police were able to charge me based on the evidence I have seen and the questions that they have been asking me this year.
"My livelihood is dependent upon racing and I will be appealing against this decision as it is extremely harsh and inconsistent given the HRA panel's verdict on Alan Berry published earlier this week.
"I am grateful for the support I have received from many trainers and owners around the world.
"However, unless my suspension is lifted my career is in ruins as I cannot ask owners or trainers to support me elsewhere when I am prevented from riding in the UK."
While Lynch and Williams have no licence to ride anywhere in the world, Fallon will be able to take rides in Ireland and elsewhere.
On Fallon, HRA Chairman Sir Michael Connell said: "It is not our intention to ask other international racing authorities to activate any suspension which we impose in any other countries.
"This is because our concern is to protect the integrity of racing in this country, and we must leave it to other authorities to take whatever action they see fit concerning their own jurisdictions."
While noting the principle of "innocent until proven", the three-man HRA panel said they had tried to balance the right of an individual to earn a living against the integrity of the sport.
Connell said: "We merely observe that, after extensive investigations and after receiving powerful representation on behalf of Kieren Fallon, the CPS special crime division has decided to prefer the charge of conspiracy against him as we have described.
"We further observe that this is a substantially different case to that of Alan Berry, who is charged in connection with only one race."
Connell returned to the balancing exercise later in his summary, acknowledging the hardship the suspension may bring to an individual while also "recognising the damage that can be done if persons the subject of a serious criminal charge are permitted to ride pending trial".
In light of the ruling, the panel decided not to grant new licences to Lynch and Williams, but to offset loss of earnings.
An approach will be made to the British Horseracing Board inviting them to compensate each individual at the relevant rate Professional Riders Insurance Scheme (PRIS) until trial.
In Fallon's case, Connell and his colleagues invoked Rule 1 (a) (xxv), prohibiting the 41-year-old from riding in Britain until the conclusion of a trial or until further orders.
Connell added: "Since he remains able to ride abroad we shall not invite any payments of compensation to him by the BHB."
A spokesperson from Ballydoyle said that Johnny Murtagh will replace Fallon aboard French 2000 Guineas winner Aussie Rules in the Eclipse.
BHB spokesman Will Lambe said: "BHB will be holding its scheduled July board meeting on Monday at which it will consider the issue of paying compensation to Fergal Lynch and Darren Williams at the relevant PRIS rate as invited by the HRA at today's hearing."
The three riders have all lodged appeals to be heard by a separate HRA panel but under Rule 2 (viii) the decision from today's panel will remain in effect until the appeal is heard.
The appeal panel is expected to sit in the next two weeks and if they fail to overturn the initial ruling the riders have the option of taking an appeal to a higher authority.
