Gianni Moscon faces a Team Sky disciplinary hearing on Monday after the Italian used racially abusive language towards FDJ rider Kevin Reza at the Tour de Romandie last week.
Moscon was allowed to complete the race on Sunday, two days after the incident occurred at the end of Friday's stage.
The 23-year-old, who apologised to Reza, is in Manchester to attend a meeting with senior management.
"This is an issue the team is taking extremely seriously," said Team Sky.
"A formal disciplinary process began immediately."
Team Sky added the decision to allow Moscon to complete the race was taken after speaking "at length" to Reza and his team.
Reza's team-mate Sebastien Reichenbach tweeted about an incident of racial abuse in the peloton on Friday, but did not name Moscon.
He wrote: "Shocked to hear idiots still using racist insults in the pro peloton. You are a disgrace to our sport."
The UCI, cycling's world governing body, said any complaint of racist abuse would be investigated.
Team Sky told Eyes On Events Sport on Monday they had not been contacted by the UCI, but they would co-operate fully with any investigation.