Fifa has ended proceedings against Football Association chairman Greg Dyke after he returned a £16,000 CBF Parmigiani watch given to him by the Brazilian Football Confederation.
Dyke was one of 65 football officials to be given a watch during the 2014 World Cup in Brazil.
The 67-year-old originally said he planned to donate it to charity.
Fifa's Ethics Committee had begun an investigation into the matter in September 2014.
Dyke said at the time he welcomed Fifa's intervention and that he had "no idea" what was in the gift bag given to him.
"During the Fifa Congress in Sao Paulo, a bag with a watch inside was left in my hotel room by the Brazilian FA. I had no idea of the value and it has been left untouched in my office since returning to England," he said.
Ian Watmore, former chief executive of the Football Association, tweeted he thought Dyke had shown an "error of judgement which weakens FA stance against Fifa".