Squire had been cited for striking with his shoulder in the Highlanders win over the Hurricanes on Friday night.
The Highlanders flanker had been cited for leading with his shoulder when clearing out TJ Perenara from a ruck but the committee decided the Wellington Hurricanes scrumhalf had dropped to his knees just before impact.
The SANZAAR Foul Play Review Committee dismissed the citing and Squire has been cleared of all charges.
In his finding, Foul Play Review Committee Chairman Nigel Hampton QC ruled the following:
