Societe Generale claimed that Jerome Kerviel used his insider knowledge to cover up trades he had made, however, an internal report found fault with the bank's oversight with regard to this sort of thing happening.
Jerome Kerviel turned himself into police in January when the matter came to light and he was accused of breach of trust, fabricating documents and illegally accessing computers.
In February, Societe Generale won a court order to have Jerome Kerviel detained in custody while the matter was investigated but a court on Tuesday reversed that ruling.
Strict conditions, however, remain on Jerome Kerviel's freedom and he is not allowed to participate in the financial markets or leave the Paris region without getting permission to do so.
Jerome Kerviel must also not meet anyone involved with the investigation and has to show up weekly at a police station in France.
