The European Commission has produced its expert group report entitled Removing obstacles to cross-border investment by venture capital funds. The report looks at the current situation in the European Venture Capital Fund (VCF) market, and goes on to identify significant practical issues hampering venture capital investment. It proposed mutual recognition of VCFs and management companies as the most immediate way of addressing these issues. The Commission’s venture capital policy is expected to be subject of a report in Autumn 2007.