Home swimmers claimed just three medals at this summer's Games - two bronze medals from Rebecca Adlington, and a silver for Michael Jamieson.
This disappointment prompted a panel to review the process, and the findings point to the fact that commercial distractions for individual swimmers 'should have been anticipated better' and the review recommended that guidance should be developed on acceptable levels of commercial and media commitments.
The review also highlighted the need for future national performance directors to be based full-time in the United Kingdom. Michael Scott, who has since resigned from the post, split his time between the UK and Australia.
Responding to the panel's recommendations, British Swimming chief executive David Sparkes said: "Words fail me in expressing our disappointment with the results from the London Olympics.
"So many people worked so hard in the last four years but we didn't achieve our goals.
"I welcome the conclusion of the performance debrief and am grateful to Craig Hunter (part of the six-man panel) and his team for the excellent report they have produced together with the clear recommendations they have made."