  The long awaited discovery of a new light scalar at the LHC opens up a new
era of studies of the Higgs sector in the SM and its extensions. In this paper
we discuss the consequences of the observation of a light Higgs boson with the
mass and rates reported by the ATLAS and CMS collaborations on the parameter
space of the phenomenological MSSM, including also the so far unsuccessful LHC
searches for the heavier Higgs bosons and supersymmetric particle partners in
missing transverse momentum as well as the constraints from B physics and dark
matter. We explore the various regimes of the MSSM Higgs sector depending on
the parameters MA and tan beta and show that only two of them are still allowed
by all present experimental constraints: the decoupling regime where there is
only one light and standard--like Higgs boson and the supersymmetric regime in
which there are light supersymmetric particle partners affecting the decay
properties of the Higgs boson, in particular its di-photon and invisible
decays.
