A relieved Kevin Moses has had a one-year disqualification overturned on appeal although the trainer will still pay a penalty for Felix Bay returning a high level of cobalt.

In upholding Moses' appeal against the severity of his sentence on Friday, the Racing NSW Appeal Panel imposed a $20,000 fine and suspended a two-year suspension on the basis he did not re-offend with any prohibited substance during that time.

A three-time Sydney premiership-winning jockey, Moses has been training at Randwick for 14 years and has 24 boxes on course.

"It is a relief for everyone especially my staff," Moses said.

"I have got good staff and luckily we haven't lost any owners so it is a good result."

Moses was found guilty in September of presenting Felix Bay to race at Hawkesbury with an elevated level of cobalt in his system.

Although the trainer was not charged with administering the substance and there was no conclusion how it got into the horse's system, Racing NSW stewards took the view cobalt brought with it a stiff penalty for the presentation charge.

At the original hearing stewards also took the trainer to task for not being fully aware of all the ingredients in supplements given to his horses.

A revised Australian Racing Rule effective from August 1, makes it an offence for any trainer to use products not registered by the Australian Pesticides and Veterinary Medicines Authority.