The Brazilian went down softly after a challenge from Hector Bellerin to earn Watford a spot-kick, which they subsequently equalised from.
Arsenal manager Arsene Wenger after the game called the the penalty award a "scandalous decision".
The incident, for the first time, went to the FA's new simulation panel, but they decided there was no conclusive evidence to suggest Richarlison dived.
Do you think he should have faced action? Take a look it the questionable decision again here:
Terrible decision by the officials. Richarlison dive right out of the Vardy handbook!#WFCvAFC pic.twitter.com/d7zV18SrMM
— Gee Grimandi (@Invertd_Whinger) 14 de outubro de 2017