I think there is a case for demotion when a jockey breaks any rule so yes if breaking whip rules too.
However – like any other infringement, interference etc – only if the difference between winning and losing was breaking the rule.
ie I had a good bet on Any Second Now and had WC broke the rules and only won by a neck or less I’d be miffed. But it was 2 1/4 lengths so changing the result would not be fair imo.
Perhaps some prize money can be witheld from winning connections might be a suitable punishment. Then not only jockeys but winning connections would not want jockeys to break whip rules. That said, perhaps then stewards would be less likely to call it out then.
Value Is Everything