Dyson was disqualified from the event in Shanghai after TV viewers alerted officials that the Englishman had fixed a spike mark in the line of a putt.
The tour announced that a disciplinary hearing would take place to decide whether further action should be taken against Dyson.
"If, following the hearing, the panel decides that a breach of the code (of behaviour) has been established, it shall impose a sanction that it considers appropriate having regard to the circumstances," the tour said in a statement.
"Such sanctions may range from a reprimand, a censure, a fine, a suspension of Membership, a suspension from participation in one or more tournaments or for a given period, or expulsion from The European Tour, or otherwise as the panel shall determine."
The panel will comprise an independent lawyer, a player and a sports administrator.
Dyson has denied deliberately cheating.
"I have never deliberately broken the rules either on this occasion or in the past," the 35-year-old golfer said in a statement.
"It was only after I was shown the replay of my action after marking the ball on the eighth green during the second round that I realised what I had done and that I was in breach. I immediately accepted that I should be disqualified.
"My action was in no way a deliberate act with the intention of breaking the rules. It was simply an accidental mistake."