The 29-year-old met his brother, Bristol back Luke, at their team hotel the night before Bristol's 24-23 Premiership win at Sale on 1 January.
Arscott, who also received a written warning from the Rugby Football Union, could make his Carnegie debut against Jersey on Friday.
"It's been a tough few weeks," he said.
"I really pleased to have joined up with Yorkshire Carnegie and I am looking forward to getting started against Jersey on Friday and letting my rugby do the talking for the remainder of the season."
Carnegie are second in the Championship table, 11 points behind leaders London Irish, but 16 clear of fourth-placed Ealing Trailfinders, who currently occupy the final play-offs spot.
Yorkshire Carnegie have signed winger Tom Arscott for the rest of the season, a month after Sale Sharks sacked him for leaking team information.