Phoenix Thoroughbreds has had its account suspended by the British Horseracing Authority, meaning the owner will not be able to have any runners in Britain until further notice.
The ownership group, headed by Amer Abdulaziz, stated it was pulling out of British racing on August 11, but it has continued to have runners since then, with Frankenstella scoring in its silks at York last Sunday.
However, the BHA has announced it will not allow Phoenix, or the affiliated Phoenix Ladies Syndicate, to have runners, with the decision understood to be financially motivated.
In a statement the BHA said: "Following Phoenix Thoroughbreds recent decision to leave UK racing, the British Horseracing Authority (BHA) can today confirm that effective as of Monday September 7, Phoenix Thoroughbreds are no longer able to have runners in races in Great Britain until further notice.
"Any horse currently entered will not be permitted to be declared in its current ownership.
"The racing administration accounts of all registered ownership entities that involve Phoenix Thoroughbreds have been suspended.
"Whilst the BHA can confirm that they are in regular correspondence with Phoenix Thoroughbreds, having reviewed the information available to date, the BHA has taken the decision to suspend the relevant accounts meaning Phoenix Thoroughbreds are unable to make entries until further notice."
Phoenix Thoroughbreds said it has been "proactively communicating" with the BHA.
A spokesperson told the PA news agency: "Following Phoenix Thoroughbred's recent decision to leave UK racing, the BHA has confirmed that there will be a temporary suspension on our runners in the UK whilst a review of our operations is conducted.
"We are in direct contact with the BHA and are working with them very closely during this review period. Phoenix Thoroughbreds have been proactively communicating with the BHA over their intention to place a temporary stop on our accounts and the governing body have been very supportive during this process.
"We would like to make it clear again there have been no charges levelled against Phoenix or its CEO Amer Abdulaziz and this suspension comes merely in the interest of the current review."
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