Agent Jonathan Barnett has lost his appeal against a ban and fine imposed for his part in the Ashley Cole tapping-up affair.
However Barnett, who is Cole's agent, has had his ban reduced from 18 months to 12 months.
It means he will be unable to operate as a players' agent for the January 2007 transfer window but, as eight months of the ban are suspended, he will be able to operate again from February 15.
An FA appeal board hearing today upheld the £100,000 fine imposed on him by a disciplinary commission on September 26.
England full-back Cole, Chelsea and manager Jose Mourinho have already been punished for their role in the meeting.
Cole and Barnett met with Mourinho, Chelsea chief executive Peter Kenyon and agent Pini Zahavi at the Royal Park Hotel in London on January 27, 2005, while Cole was an Arsenal player.
The player later signed a new contract with Arsenal but moved to Chelsea in August after a summer of protracted negotiations between the two clubs.
Barnett denied any wrongdoing but in September the commission found two misconduct charges against him proved, and said it was 'wholly satisfied that he was a prime mover in the setting up of the meeting'.
He subsequently appealed against the sanction imposed by the commission but not against the guilty verdict.
The FA said in a statement: 'If Barnett is found by an FA disciplinary commission to have breached any FA rule within the 12-month period, that disciplinary commission will have the discretion to activate in whole or in part that eight-month period of suspension.'