The world governing body had given a deadline of January 13 for the SFV to take action against Sion for breaking a transfer embargo.
That action came on December 30, when they docked the club 36 points - three for each game in which one of the six illegally signed and therefore ineligible players featured.
Miserable night: Manchester United crashed out of Europe in Basle last month
A FIFA statement read: 'The FIFA emergency committee decided 5 January 2012 to consider the requirements established by the FIFA executive committee on 16 December 2011 as fulfilled by the Swiss Football Association (SFV) and that the SFV will consequently not be suspended in relation to the FIFA executive committee's decision of 16 December.
'However, FIFA has requested the SFV to keep the international football governing body informed on any future developments with regards to this matter.'
The ratification from FIFA means Basle will remain in the Champions League and ends any hope of a reprieve for United, who were knocked out by the Swiss side.
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