SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                         ______________________________

                                    FORM 8-K

                 CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)

                     OF THE SECURITIES EXCHANGE ACT OF 1934



         Date of report (date of earliest event reported): July 9, 2003



                        FINANCIAL INDUSTRIES CORPORATION
               (Exact name of Registrant as specified in charter)




           Texas                         0-4690                74-2126975
(State or other jurisdiction    (Commission file number)    (I.R.S. employer
 of incorporation)                                           identification no.)





                      6500 River Place Blvd., Building One
                               Austin, Texas 78730
                    (Address of principal executive offices)


       Registrant's telephone number, including area code: (512) 404-5000

                         ______________________________


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Item 9.  REGULATION FD DISCLOSURE



On  July  9,  2003,  Financial  Industries   Corporation  ("FIC")  modified  the
membership  of the  Nominations/Governance  Committee of its Board of Directors.
Eugene E.  Payne,  Chairman,  President  and  Chief  Executive  Officer  of FIC,
submitted his resignation as a member of the Nominations/  Governance Committee.
This action was taken in order to strengthen corporate governance processes.  As
a result, the membership of the Nominations/Governance Committee, as well as the
Audit  Committee  and the  Compensation  Committee of the FIC Board of Directors
consists solely of independent, non-employee directors individuals.

NOTE:     The  information  in this report is  furnished  pursuant to Item 9 and
          shall not be deemed to be "filed" for the purpose of Section 18 of the
          Securities   Exchange  Act  of  1934  or  otherwise   subject  to  the
          liabilities  of that  section.  This  report  will  not be  deemed  an
          admission as to the  materiality of any information  contained  herein
          that is required to be disclosed solely by regulation FD.

                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.



                                        FINANCIAL INDUSTRIES CORPORATION



Date: July 10, 2003                     By:    /s/ Eugene E. Payne
                                            Eugene E. Payne
                                            Chief Executive Officer





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