"I didn't say it is illegal but personally I think releasing a...

"I didn't say it is illegal but personally I think releasing a report without getting company's input is certainly cheeky and contrary to industry practice if not illegal."

It may be "cheeky" but it is certainly not contrary to industry practice.
The vast majority of equity research is published totally un-vetted by companies.

Which - for purposes of analytical objectivity - is the way it should be.
Otherwise analysts simply end up regurgitating what the company tells them.
And that would not be a good thing.
(In fact, if anything, the problem with equity research is that not enough analysts question company financials and strategies.)

Finally, to say that it is illegal for brokering analysts to publish research because the company hasn't had the chance to edit it, is nothing other than fanciful.