Extra Coverage
By Jesse Freund

(Business 2.0) – In April 2003, when the Securities and Exchange Commission fined 10 Wall Street firms $1.4 billion for their overly cozy relations between bankers and analysts, $433 million was set aside to give investors free access to unbiased research. Now it's deadline time. By July 27, the brokerages--big names like Citigroup, J.P. Morgan, and Merrill Lynch--must offer investors research from three independent providers. Investors are sure to like the third-party analysis, but the brokerage industry, which uses proprietary research as a come-on, no doubt hopes the experiment doesn't catch on.