Originally Posted by
T-Mar
Also, I don't how many of you have noticed this but even past World Champions get to wear the rainbow stripes in sanctioned races. It's not as prominent as the reigning World Champion, but in recognition of their past accomplishment, previous World Champions are permitted to display the rainbow stripes on the collar and/or cuffs of their team jerseys. Here's a photo of Hinault displaying the rainbow stripes of the cuffs of his jersey.

I believe there is a weird rule that it must be at the cuff of the sleeves. Tony Martin and Tom Demoulin were fined at last year's Tour for wearing long sleeves that had the rainbow printed on the sleeve mid bicep (ie where they would be if he were wearing short sleeves).