Trainer Bob Challis has had a suspension reduced to a fine after failing to report one of his horses had a bleeding attack.

Racing Victoria stewards last week suspended Challis for six weeks after the trainer didn't tell them Handicap Honours had bled after galloping at Kyneton, in country Victoria, last month.

He was further suspended for three weeks for failing to report the horse had blood in one nostril after galloping four days later.

Challis, who pleaded guilty at last week's stewards inquiry, fronted the Racing Appeals and Disciplinary Board on Wednesday where he had the penalties reduced to a $2000 fine.