John gives an insight into the impact of the recent EIS and VCT rule changes, as well as some thoughts about what may come in the future. He talks about how the biggest impact of these (mainly EU required) changes was on those looking to management buy-outs as their exit strategy. He predicts that BREXIT will not greatly affect the regulatory environment for the next year or so while Government agencies such as HMRC are focusing on clarifying the current interpretations of the rules. As a result, possible changes will have to wait until later.