Spencer was Aidan O'Brien's stable jockey last season
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Jamie Spencer is free to ride in the Vodafone Oaks on 3 June after his four-day ban was reduced on appeal.
Spencer had been found guilty of careless riding on Dubai Venture at Newmarket last Friday and was suspended for May 31 and 1-3 June inclusive.
But the Jockey Club's disciplinary panel has cut the ban to three days (May 31 to June 2).
He can now to ride at next Friday's first day of the Derby meeting, which features the Oaks and Coronation Cup.
Following the hearing, Spencer's lawyer, Richard Brooks, said: "Jamie only appealed against penalty and not the careless riding itself.
"The panel concluded that although there was a bit of scrummaging it was, to some degree, caused by accident. Jamie was happy to hold his hands up to an extent and is pleased that the panel imposed a more lenient penalty."
Spencer's agent Chris McGrath added: "It wasn't just about being free for Epsom, it was more a case that he felt he had been harshly treated."
Spencer is booked to ride Fracas for Irish trainer David Wachman in the Derby but as yet has no firm plans for either of the big races on Oaks day.