He also outlined further recommendations in his determination as well as criticising the Crown's failure to lead evidence from those immediately responsible for Mr Nichol at the time of his death.
It is unknown whether the SEC may have declined to take further action as a result of a determination that no wrongdoing had occurred, insufficient evidence or for some other undisclosed reason.
Sollecito's attorney, Giulia Bongiorno, noted that Tuesday's ruling was not a determination of guilt but merely a need for further study of the appeals court ruling.