UNITED STATES OF AMERICA
                                      Before the
                          SECURITIES AND EXCHANGE COMMISSION

     SECURITIES EXCHANGE ACT OF 1934
     Release No. 39283 / October 29, 1997

     ADMINISTRATIVE PROCEEDING 
     File No. 3-9363

                              
                              :
     In the Matter of         :    ORDER MAKING FINDINGS 
     RONALD J. VIEMONT        :    AND IMPOSING REMEDIAL 
                              :    SANCTIONS
                              : 
                Respondent.   : 
                              :


                                          I.

          In connection with public administrative proceedings instituted
     against Ronald J. Viemont (Viemont) pursuant to Sections 15(b)(6) and 19(h)
     of the Securities Exchange Act of 1934 (Exchange Act),<(1)> Viemont
     has submitted an Offer of Settlement (Offer) which the Securities and
     Exchange Commission (Commission) has determined is in the public interest
     to accept.  Solely for the purpose of these proceedings and any other
     proceeding brought by or on behalf of the Commission or in which the
     Commission is a party, Viemont, without admitting or denying the findings,
     except as to the Commission's jurisdiction over this matter and the
     findings contained in paragraphs II.A. and II.B. below, which are admitted,
     consents to the entry of this Order Making Findings and Imposing Remedial
     Sanctions (Order).

     II.

          On the basis of this Offer and the Order Instituting Proceedings, the
     Commission finds that:

          A.   From August 1992 to August 1993, Viemont was a registered
     representative associated with two broker-dealers registered with the
     Commission, one based in Florida and one based in Colorado.

          B.   On January 17, 1996, the United States District Court for the
     Central District of Illinois, in the case of United States v. Ronald J.
     Viemont (Criminal Action No. 2:95CR20027-001), entered a criminal judgment
     against Viemont based upon his having committed wire fraud in violation of
                              

          <(1)>     The Order Instituting Proceedings was  issued on August
          18, 1997.  See Exch. Act Rel. No. 38941.

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     18 U.S.C.  1343.  The court sentenced Viemont to 15 months imprisonment,
     fined him $4,000, and ordered that he pay $200,000 in restitution to the
     two defrauded pension fund clients.

          C.   The indictment upon which Viemont s conviction was based charges
     that  Viemont acted as a financial consultant through a firm called R.J.
     Viemont & Company in Peoria, Illinois, in addition to acting as a
     registered representative.  According to the indictment, his customers
     included three public employee pension funds and a credit union, each of
     which maintained brokerage accounts at the firms with which he was
     associated at the time.  The indictment charges that in August 1992,
     Viemont, while acting as a financial consultant to two of the public
     employee pension funds, forged the signature of the treasurer of each of
     these funds and caused $100,000 to be wired from each of their accounts. 
     It further charges that Viemont then mailed monthly investment reports to
     the funds from September 1992 through April 1993 which failed to disclose
     the wire transfers.  Finally, it charges that in or about July 1993,
     Viemont attempted to repay these two funds by transferring, without
     authorization, $100,000 each from a third public employee pension fund and
     a credit union.

     III.

          In view of the foregoing, the Commission finds that it is in the
     public interest to impose the sanction specified by Viemont in his Offer. 

          Accordingly, IT IS ORDERED that Viemont be barred from association
     with any broker, dealer, municipal securities dealer, investment company,
     or investment adviser, effective immediately. 
          For the Commission, by its Secretary, pursuant to delegated authority.



      

                                   Jonathan G. Katz
                                   Secretary