A ruling made earlier in the year stated that Mr Myerson, Daniel Posen and Brian Padgett had colluded to take control of shares in Principle Capital Investment Trust.
The panel upheld the decision that the three men had broken the takeover code by acquiring stock in the trust without also offering to sell them to shareholders.
According to the ruling, their behaviour to conceal the acquisition of the 6.7 million shares was âco-ordinated, disingenuous and dishonest".
As a result, the three traders have been issued with a âcold-shoulderâ penalty, which prevents them from taking part in any merger or acquisition activity.
Mr Myerson has refuted the decision and said he is likely to launch an appeal.
âI am now examining what legal options are open to me, including a challenge in the European courts and whether the Panel exceeded its authority in acting as it did.â
The traderâs Principle Capital firm originally established the trust in 2005.
By Jim Ottewill