In a statement, Denis MacShane said: "I am shocked and saddened that the BNP has won its three-year campaign to destroy my political career as a Labour MP despite a full police investigation which decided not to proceed after investigations and interviews.
"I am glad the committee notes that there is no question of personal gain. Clearly I deeply regret that the way I chose to be reimbursed for costs related to my work in Europe and in combating anti-semitism, including being the Prime Minister's personal envoy, has been judged so harshly.
"I remain committed to work for progressive values, for Britain playing a full part in Europe, and for combating anti-semitism even though I can no longer undertake this work as a Labour MP.
"I am consulting family and friends as I consider my position and study the full implications of the report. I am obviously desperately sorry for any embarrassment I have caused my beloved Labour Party and its leader Ed Miliband whom I greatly admire."
More top news
After the Indiana polls close, ITV News asked Ted Cruz supporters if they could back Donald Trump as the Republican presidential nominee.
With his massive victory in Indiana, Donald Trump can now not be stopped from becoming the Republican nominee.
Donald Trump is predicted to win the crucial Republican Indiana primary, US media have projected.