To answer your question directly; yes. If Riot makes a determination that your behavior was below their standards, they can manually apply a punishment if they wish, as per the Terms of Use.
2.1. How can my account be suspended or terminated? (If you break the rules, Demacian Justice will be visited upon your account!)
Three (Two) different people/entities can suspend or terminate your account:
2.1.1. You. You may terminate or suspend your account at any time by contacting us at [email protected].
2.1.2. Us. We may terminate or suspend your account if we determine, in our sole discretion, that:
(a) you have violated any part of this Agreement;
(b) we have stopped offering the Riot Services in your region; or
(c) doing so would be in the best interests of our community, the Riot Services, or the rights of a third party.
We may make such determinations, among other ways, by using automated systems and machine learning tools.
(Two notes; 1. I struckthrough the "Three" and placed (Two) in there as the Tribunal is no longer a thing, leaving only the two parties who can suspend/terminate the account. 2. While this section of the ToU refers to account suspensions and account termination, it also applies to punishments in general, such as Chat Restrictions.)
Beyond answering your question though, there are other things that aught to be mentioned;
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Your account having been 14-day banned in the first place is an arguable mistake. You used zero-tolerance chat (albeit in an innocuous fashion), and the IFS responded appropriately.
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You got extremely lucky that Riot was willing to lessen your punishment at all, considering the above. Riot normally doesn't do anything like that.
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Even if it was ultimately a manually-applied punishment on Riot's part, the odds are more than fair that you have been reported for some of your behavior in previous matches without knowing; you can never truly know whether or not someone reported you, so claiming 100% certainty isn't exactly right.