==========================================START OF PAGE 1======


                    UNITED STATES OF AMERICA
                           before the 
               SECURITIES AND EXCHANGE COMMISSION 



INVESTMENT ADVISERS ACT OF 1940
Release No.1576 / August 8, 1996

ADMINISTRATIVE PROCEEDING FILE NO. 3-9059

ADMINISTRATIVE PROCEEDINGS INSTITUTED AGAINST RONALD M. ZOOK

     On August 8, 1996, the Commission instituted public
administrative proceedings, pursuant to Section 203(f) of the
Investment Advisers Act of 1940 ("Advisers Act"), against Ronald
M. Zook ("Zook"), of Winter Park, Florida.  Zook is the president
of Financial Concepts Group International, Inc. ("FCGI"), which
was registered with the Commission as an investment adviser from
May 25, 1994 until May 9, 1996.

     The Order Instituting Proceedings ("Order") alleges that on
February 7, 1995, the Commission filed a complaint against FCGI
and Zook alleging that from at least May 25, 1994 to February 7,
1995, FCGI and Zook failed to: (a) make and keep books and
records and provide written disclosure statements to their
clients, as prescribed under the Advisers Act; and (b) establish,
maintain, and enforce written policies and procedures reasonably
designed, taking into consideration the nature of FCGI's
investment adviser business, to prevent the misuse of material,
non-public information by FCGI and Zook or any person associated
with FCGI and Zook.  The Order further alleges that on March 20,
1995, a final judgment of permanent injunction was entered, by
consent, against Zook and FCGI, permanently enjoining them from
future violations of the books and records and disclosure
provisions of the Advisers Act.  SEC v. Financial Concepts Group
International, Inc., et al., Case No. 95-117-CIV-ORL-19
(M.D.Fla.).  

     In addition, the Order alleges that on August 7, 1995, the
Commission filed a complaint against FCGI and Zook alleging that
from at least late 1992 through March 1995, FCGI and Zook
defrauded at least 195 investors residing in at least 21 states
of a total of approximately $6 million, by soliciting them to
invest in investment contracts involving "prime bank"
instruments.  The complaint further alleged that instead of
investing in "prime bank" instruments, FCGI and Zook used
investor funds to: (a) pay Zook's personal expenses; (b) make
"interest" payments to other investors; and (c) provide interest-
free loans to various private corporations of which Zook is an
officer and/or shareholder.  In addition, the Order alleges that
==========================================START OF PAGE 2======

on January 24, 1996, a final judgment of permanent injunction was
entered, upon default, against Zook and FCGI, enjoining them from
future violations of Sections 5(a), 5(c) and 17(a) of the
Securities Act, Section 10(b) of the Exchange Act, and Rule 10b-
5, thereunder.  SEC v. Ronald M. Zook, et al., Case No. 95-798-
CIV-ORL-22 (M.D. Fla.).  

     A hearing will be scheduled to determine whether the
allegations against Zook are true and, if so, what sanctions, if
any, are appropriate and in the public interest.