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): August 15, 2002




                        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 5.Other Events

The Company's  quarterly  report on Form 10-Q for the period ended June 30, 2002
was due on August 14,  2002.  On August 15,  2002,  the  Company  filed with the
Securities and Exchange  Commission a Form 12b-25,  Notification of Late Filing,
indicating that the quarterly  report would not be timely filed. As indicated in
the Form 12b-25 filing,  the Company has been working  diligently to prepare its
consolidated  financial  statements for the quarter and six-month  periods ended
June 30, 2002 and such consolidated financial statements have been substantially
completed.  However,  in  connection  with  the  preparation  of  such  reports,
management  discovered  that  certain  expenses  which were paid by the  Company
during the reporting period and prior reporting  periods may have been personal,
rather than  business-related  expenses,  of the President  and Chief  Executive
Officer of the Company.  On August 15, 2002, the Audit Committee of the Board of
Directors retained  independent  counsel to conduct a review for the current and
prior  periods.  The  Company  does not  anticipate  this review will reveal any
significant  change in the Company's results of operations for the quarter ended
June 30,  2002 from the  corresponding  period  for the last  fiscal  year,  but
independent  counsel is not able to  complete a review of this matter by the due
date of the  Company's  Form 10-Q for the periods  ended June 30,  2002  without
unreasonable effort or expense.


Exhibits.

     99.1* - Press Release dated August 15, 2002

______________
* Filed herewith

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                                   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: August 15, 2002                       By: /s/ Jeffrey H. Demgen
                                                Jeffrey H. Demgen
                                                Chief Financial Officer







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                                  Exhibit 99.1


FOR IMMEDIATE RELEASE
August 15, 2002

FOR MORE INFORMATION CONTACT
Robert S. Cox
512-404-5128

                        FINANCIAL INDUSTRIES CORPORATION
                                    ANNOUNCES
                FILING OF FORM 12b-25 NOTIFICATION OF LATE FILING

AUSTIN, TEXAS -- Financial Industries  Corporation (FIC) today announces that it
has filed a Form  12b-25  Notification  of Late  Filing of its Form 10-Q for the
quarter ended June 30, 2002.

As indicated in the Form 12b-25 filing,  the Company has been working diligently
to prepare its consolidated  financial  statements for the quarter and six-month
periods ended June 30, 2002 and such consolidated financial statements have been
substantially  completed.  However,  in connection  with the preparation of such
reports,  management  discovered  that certain  expenses  which were paid by the
Company during the reporting  period and prior  reporting  periods may have been
personal,  rather than  business-related  expenses,  of the  President and Chief
Executive Officer of the Company. On August 15, 2002, the Audit Committee of the
Board of  Directors  retained  independent  counsel  to conduct a review for the
current and prior  periods.  The Company  does not  anticipate  this review will
reveal any  significant  change in the Company's  results of operations  for the
quarter  ended June 30, 2002 from the  corresponding  period for the last fiscal
year, but independent counsel is not able to complete a review of this matter by
the due date of the  Company's  Form 10-Q for the  periods  ended June 30,  2002
without unreasonable effort or expense.

The  information  in this  release  relating  to the  Company's  operations  and
financial  results,   future  business   developments,   and  contingencies  and
uncertainties constitute forward-looking statements under the Private Securities
Litigation Reform Act of 1995.

The  Company's  NASDAQ  symbol  is FNIN.  For  more  information  on FIC,  go to
http://www.ficgroup.com on the Internet.

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