Panesar (right) appeals unsuccessfully to umpire Daryl Harper
England spinner Monty Panesar has been fined 25% of his match fee for excessive appealing during the fifth Test against West Indies in Trinidad.
The punishment was imposed by match referee Alan Hurst.
He said: "Monty Panesar is a very enthusiastic and exuberant bowler. There is nothing wrong with that, but on this occasion he has gone too far."
Debutant pace bowler Amjad Khan was found guilty of the same offence but escaped with a reprimand.
The charges were brought after the pair were reported by on-field umpires Daryl Harper and Russell Tiffin.
Hurst, a former Test cricketer for Australia, said Khan was new to international cricket and had apologised for his actions.
But he insisted that Panesar, who was accompanied to the hearing by captain Andrew Strauss, coach Andy Flower and team manager Phil Neale, was not entitled to similar leniency.
"On more than one occasion during the day, he began celebrating a prospective dismissal rather than appealing and waiting for the decision to be made, thereby not showing due respect for the role of the umpire," said Hurst.
"He is an experienced player who should know this action is not in the spirit of the game."
Panesar is the first England bowler to be fined for excessive appealing since seam bowler Matthew Hoggard was relieved of 20% of his match fee following the first Test against Pakistan in Multan in November 2005.
But the punishment was not as severe as it could have been as a Level 1 breach of the players' Code of Conduct carries a maximum penalty of a 50% match fee fine.
Stuart Broad, meanwhile, was found not guilty of criticising match officials in an interview.
"On the evidence presented, the actions of the player did not breach the ICC code of conduct," Hurst explained.
"While a comment attributed to Stuart Broad related to match officials and their performance, it was not specific, not perceived as serious in the context of the whole interview quoted and not proven to be an accurate quote.
"Also, Stuart was clearly positive about the umpires in other interviews conducted after the game on Sunday."