# EDGAR Filing Document

**Accession Number:** 0000018026
**File Stem:** 0000018026-26-000002
**Filing Date:** 2026-2
**Character Count:** 21277
**Document Hash:** 975d93232481271775e75d5e5acb6d06
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000018026-26-000002.hdr.sgml**: 20260304

**ACCESSION NUMBER**: 0000018026-26-000002

**CONFORMED SUBMISSION TYPE**: MA-A

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260206

**DATE AS OF CHANGE**: 20260304

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CARTY, HARDING & HEARN, INC.
- **CENTRAL INDEX KEY:** 0000018026

**ORGANIZATION NAME:**
- **EIN:** 620842403
- **STATE OF INCORPORATION:** TN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** MA-A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 867-02636
- **FILM NUMBER:** 26718752

**BUSINESS ADDRESS:**
- **STREET 1:** 6263 POPLAR AVENUE
- **STREET 2:** SUITE 800
- **CITY:** MEMPHIS
- **STATE:** TN
- **ZIP:** 38119
- **BUSINESS PHONE:** 901-767-8940

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 17527
- **CITY:** MEMPHIS
- **STATE:** TN
- **ZIP:** 38187-0527

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CARTY, HARDING, & HEARN, INC.
- **DATE OF NAME CHANGE:** 20241021

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CARTY & COMPANY, INC.
- **DATE OF NAME CHANGE:** 20020925

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CARTY & CO INC                                          /BD
- **DATE OF NAME CHANGE:** 20000101

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM MA: UNIFORM APPLICATION FOR MUNICIPAL ADVISOR REGISTRATION

### Filer and Contact Information

**Filer CIK:** 0000018026

**Filer CCC:** XXXXXXXX

**Contact Name:** Jennifer Scola

**Contact Phone:** 19017666243

**Contact Email:** jscola@cartyco.com

**Notification Emails:** aruetten@cartyco.com, amarsh@cartyco.com

### Type of Filing

**Selected Filing Type:** Annual Update

### Item 1: Identifying Information

**A. Full Legal Name of the Firm:** CARTY, HARDING & HEARN, INC.

**&nbsp;&nbsp;&nbsp;Organization CRD No.:** 7001

**&nbsp;&nbsp;&nbsp;Is applicant a Sole Proprietor?:** No

**&nbsp;&nbsp;&nbsp;Has the municipal legal name changed since the last filing?:** No

**&nbsp;&nbsp;&nbsp;Has the applicant had any previous DBA names?:** No

**&nbsp;&nbsp;&nbsp;Does the applicant have any additional DBA names?:** No

**C. IRS Employer Identification Number:** 62-0842403

**D. Registrations:**

- **Municipal Advisor:** SEC File No: 867-02636

- **Broker-Dealer:** SEC File No: 008-19082, CRD No: 7001

**E. Principal Office and Place of Business:** 6263 POPLAR AVENUE, SUITE 800, MEMPHIS, TN, 38119

**Telephone Number:** 901-767-8940

**Additional Offices of Employment:**

- **Office #1 (Add):**  | Phone: 901-767-8940

- **Office #2 (Add):** 300 Summer St., Suite 1500, Charleston, WV, 25301 | Phone: 304-545-5213

**Mailing Address is Different from Principal Office:** No

**F. Website:** https://www.cartyco.com

**G. Chief Compliance Officer (CCO):**

**Name:** Jennifer Carty Scola

**Titles:** Chief Operating Officer

**Address:** 6263 Poplar Avenue, Suite 800, Memphis, TN, 38119

**Phone Number:** 901-767-8940

**Email:** jscola@cartyco.com

**H. Business Affiliates:**

- **Name:** Carty Financial Corporation

**I. Location of Books and Records:** Yes

### Item 2: Form of Organization

**A. Applicant's form of organization:** Corporation

**B. Month of Applicant's Annual Fiscal Year End:** December

**C. State, Other U.S. Jurisdiction, or Foreign Jurisdiction Under Which Applicant is Organized:** TN

**D. Date of Organization:** 10-07-1970

**E. Is the applicant a public reporting company?:** No

### Item 3: Successions

**Is the applicant succeeding to the business of a registered municipal advisor?** No

### Item 4: Information About Applicant's Business

**A. Number of Employees:** 57

**B. Municipal Advisory Activities - Employees:** 2

**C. Registered Representatives - MAA Employees also registered reps of a broker-dealer:** 2

**&nbsp;&nbsp;&nbsp;MAA Employees also associated with an investment adviser:** 0

**D. Public Relations Company?:** No

**E. Soliciting on Behalf of an Affiliate - Number of firms:** 0

**F. Types of Clients - Number of clients served as municipal advisor:** 0

**&nbsp;&nbsp;&nbsp;Types of Clients:** Municipal Entities, Non-profit organizations, Corporations or other businesses

**G. Solicitation of Municipal Entities and Obligated Persons - Municipal Entities:** 0

**&nbsp;&nbsp;&nbsp;Obligated Persons:** 0

**&nbsp;&nbsp;&nbsp;Total Solicited:** 0

**H. Types of Persons Solicited:** 
Not Applicable
, Not Applicable

**I. Compensation Arrangements (Municipal Advisory):** 
Hourly Charges
Fixed Fees
Contingent Fees
, Hourly Charges, Fixed Fees, Contingent Fees

**J. Compensation Arrangements (Solicitation):** 
Not Applicable
, Not Applicable

**K. Does the applicant receive compensation in the context of its municipal advisory business from other than its municipal entity or obligated person clients?:** No

**L. Applicant Business Relating to Municipal Securities:** Advice Insurance Of MS, Advice Investment Of Proceeds MS, Advice ME Investments, Advice ME Other Investments, Advice Guaranteed IC, Advice Use Of MD, Advice On Selection, Brokerage Of MEI

### Item 5: Other Business Activities

- **Broker-Dealer:** Actively Engaged: Yes, Primary Business: Yes

**Is applicant engaged in any other non-municipal advisor business?** No

### Item 6: Financial Industry and Other Activities of Associated Persons

**Types of associated persons:** Broker-dealer municipal securities dealer or government securities broker or dealer, Broker-dealer municipal securities dealer or government securities broker or dealer, Broker-dealer municipal securities dealer or government securities broker or dealer, Broker-dealer municipal securities dealer or government securities broker or dealer, Broker-dealer municipal securities dealer or government securities broker or dealer, Broker-dealer municipal securities dealer or government securities broker or dealer, Broker-dealer municipal securities dealer or government securities broker or dealer, Broker-dealer municipal securities dealer or government securities broker or dealer, Broker-dealer municipal securities dealer or government securities broker or dealer, Broker-dealer municipal securities dealer or government securities broker or dealer

**Total Associated Persons:** 9

### Item 7: Participation or Interest in Client Transactions

- **Buy or sell municipal securities from or to municipal advisory clients for the firm's own account?:** No

- **Buy or sell municipal securities from or to third-parties on behalf of clients?:** No

- **Enter into derivatives transactions with clients for the firm's own account?:** No

- **Recommend to clients to buy/sell securities in which the firm has a financial interest?:** No

- **Recommend to clients products/services of an affiliated person?:** No

- **Recommend to clients securities of an issuer with which the firm has other relationships?:** No

- **Have discretionary authority to buy/sell municipal securities for clients?:** No

- **Have discretionary authority to buy/sell any other securities or investments for clients?:** No

- **Have discretionary authority to determine the broker-dealer to be used for client transactions?:** No

- **Have discretionary authority to determine the commission paid to a broker-dealer?:** No

- **Recommend broker-dealers to clients?:** No

- **&nbsp;&nbsp;&nbsp;If yes, are any of these broker-dealers an associated person of the applicant?:** —

- **Compensate any person for client referrals?:** No

- **Receive compensation from any person for client referrals?:** No

### Item 8: Owners, Officers, and Other Control Persons

**A. (2) Does any person not named in Item 1-A or Schedules A, B, or C, directly or indirectly, control the applicant's management or policies?** No

**B. (1) Is any person in Schedule A, B, or C, or in Section 8-A of Schedule D a public reporting company?** No

### Item 9: Disclosure Information

**Criminal Disclosure:**

- **Applicant/Advisory Affiliate Convicted/Pled Guilty to Felony?:** No

- **Applicant/Advisory Affiliate Charged with Felony?:** No

- **Organization Convicted/Pled Guilty to Felony?:** No

- **Organization Charged with Felony?:** No

**Regulatory Disclosure:**

- **SEC/CFTC Found False Statement?:** No

- **SEC/CFTC Found Violation?:** No

- **SEC/CFTC Found Cause of Denial/Suspension?:** No

- **SEC/CFTC Entered Order?:** No

- **SEC/CFTC Imposed Civil Penalty?:** No

- **SRO Found Unethical Conduct?:** No

- **SRO Found Violation?:** Yes

- **SRO Found Cause of Denial/Suspension?:** Yes

- **SRO Barred/Suspended/Fined > $2,500?:** Yes

- **SRO Denied/Suspended/Revoked Registration?:** Yes

- **Foreign Authority Found False Statement?:** No

- **Foreign Authority Found Violation?:** Yes

- **Foreign Authority Found Cause of Suspension?:** No

- **Foreign Authority Disciplined?:** No

- **Authorization to Act as Attorney/Accountant Revoked?:** No

- **Subject of a Regulatory Complaint?:** No

**Civil Disclosure:**

- **Enjoined in Connection with Municipal Advisory Activity?:** No

- **Found to Have Violated Regulations?:** No

- **Civil Proceeding Dismissed Pursuant to Settlement?:** No

- **Named in Civil Proceeding Alleging Violation?:** No

### Item 10: Small Businesses

**Does the applicant have annual receipts of less than $7,000,000?** No

**Is the applicant affiliated with a person that has annual receipts of more than $7,000,000?** No

### Schedule A: Direct Owners and Executive Officers

| Name                    | Title/Status                 | Date Acquired   | Ownership Code    | Control Person?   | IRS Number   | CRD Number   |
|:---|:---|:---|:---|:---|:---|:---|
| CARTY FINANCIAL         | OWNER                        | 07-01-1977      | E - 75% or more   | Yes               | 62-1023424   |  |
| BILLY RANDOLPH CARTY    | CEO                          | 01-01-1970      | NA - less than 5% | Yes               |  | 42297        |
| JENNIFER CARTY SCOLA    | COO, CCO                     | 01-01-2007      | NA - less than 5% | Yes               |  | 1720872      |
| WILLIAM LAWRENCE CARTY  | PRESIDENT                    | 01-01-2007      | NA - less than 5% | Yes               |  | 2356971      |
| JOHN ARTHUR HEARN       | MANAGING DIRECTOR            | 01-01-2007      | NA - less than 5% | Yes               |  | 2078994      |
| CLARK BOMAR TUCKER      | FINOP                        | 01-01-2021      | NA - less than 5% | No                |  | 1977842      |
| RUSH FLOWERS HARDING IV | Senior VP, Managing Director | 05-01-2022      | NA - less than 5% | Yes               |  | 5495814      |
| ANGELA LYNN RUETTEN     | CFO, SECRETARY & TREASURER   | 01-02-2023      | NA - less than 5% | Yes               |  | 000000000    |

### Schedule B: Indirect Owners

| Owning Entity   | Name                    | Title/Status   | Date Acquired   | Ownership Code                                          | Control Person?   |
|:---|:---|:---|:---|:---|:---|
| CARTY FINANCIAL | BILLY RANDOLPH CARTY    | CEO            | 07-01-1977      | C - 25% but less than 50%                               | Yes               |
| CARTY FINANCIAL | JENNIFER CARTY SCOLA    | COO, CCO       | 03-01-1999      | F - Other (general partner, trustee, or elected member) | Yes               |
| CARTY FINANCIAL | WILLIAM LAWRENCE CARTY  | PRESIDENT      | 06-01-1998      | F - Other (general partner, trustee, or elected member) | Yes               |
| CARTY FINANCIAL | JOHN ARTHUR HEARN       | EXECUTIVE VP   | 09-01-2001      | F - Other (general partner, trustee, or elected member) | Yes               |
| CARTY FINANCIAL | RUSH FLOWERS HARDING IV | EXECUTIVE VP   | 05-01-2022      | F - Other (general partner, trustee, or elected member) | Yes               |

### Schedule C: Amendments to Schedules A and B

| Type   | Ownership   | Owning Entity   | Name                    | Title/Status                 | Date Acquired   | Ownership Code                                          | Control Person?   | IRS Number   | CRD Number   |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Direct      |  | CARTY FINANCIAL         | OWNER                        | 07-01-1977      | E - 75% or more                                         | Yes               | 62-1023424   |  |
|  | Direct      |  | BILLY RANDOLPH CARTY    | CEO                          | 01-01-1970      | NA - less than 5%                                       | Yes               |  | 42297        |
|  | Direct      |  | JENNIFER CARTY SCOLA    | COO, CCO                     | 01-01-2007      | NA - less than 5%                                       | Yes               |  | 1720872      |
|  | Direct      |  | WILLIAM LAWRENCE CARTY  | PRESIDENT                    | 01-01-2007      | NA - less than 5%                                       | Yes               |  | 2356971      |
|  | Direct      |  | JOHN ARTHUR HEARN       | MANAGING DIRECTOR            | 01-01-2007      | NA - less than 5%                                       | Yes               |  | 2078994      |
|  | Direct      |  | CLARK BOMAR TUCKER      | FINOP                        | 01-01-2021      | NA - less than 5%                                       | No                |  | 1977842      |
|  | Direct      |  | RUSH FLOWERS HARDING IV | Senior VP, Managing Director | 05-01-2022      | NA - less than 5%                                       | Yes               |  | 5495814      |
|  | Direct      |  | ANGELA LYNN RUETTEN     | CFO, SECRETARY & TREASURER   | 01-02-2023      | NA - less than 5%                                       | Yes               |  | 000000000    |
|  | Indirect    | CARTY FINANCIAL | BILLY RANDOLPH CARTY    | CEO                          | 07-01-1977      | C - 25% but less than 50%                               | Yes               |  | 42297        |
|  | Indirect    | CARTY FINANCIAL | JENNIFER CARTY SCOLA    | COO, CCO                     | 03-01-1999      | F - Other (general partner, trustee, or elected member) | Yes               |  | 1720872      |
|  | Indirect    | CARTY FINANCIAL | WILLIAM LAWRENCE CARTY  | PRESIDENT                    | 06-01-1998      | F - Other (general partner, trustee, or elected member) | Yes               |  | 2356971      |
|  | Indirect    | CARTY FINANCIAL | JOHN ARTHUR HEARN       | EXECUTIVE VP                 | 09-01-2001      | F - Other (general partner, trustee, or elected member) | Yes               |  | 2078994      |
|  | Indirect    | CARTY FINANCIAL | RUSH FLOWERS HARDING IV | EXECUTIVE VP                 | 05-01-2022      | F - Other (general partner, trustee, or elected member) | Yes               |  | 5495814      |

### Disclosure Reporting Pages (DRPs)

**Regulatory DRP for: Applicant (Responding to Questions: 9-E2)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 1903285

**Regulatory DRP for: Applicant (Responding to Questions: 9-E2)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 1657917

**Regulatory DRP for: Applicant (Responding to Questions: 9-E2)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 1573936

**Regulatory DRP for: Applicant (Responding to Questions: 9-E2)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 1501472

**Regulatory DRP for: Applicant (Responding to Questions: 9-E2)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 1166735

**Regulatory DRP for: Applicant (Responding to Questions: 9-E2)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 1111120

**Regulatory DRP for: Applicant and Associated Person (Responding to Questions: 9-D2, 9-D3, 9-D4, 9-D5)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 659923

  - **Associated Person:** BILLY R CARTY

  - **CRD Number:** 42297

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 659923

**Regulatory DRP for: Applicant and Associated Person (Responding to Questions: 9-D2, 9-D3, 9-D4, 9-D5)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 659911

  - **Associated Person:** BILLY RANDOLPH CARTY

  - **CRD Number:** 42297

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 659911

**Regulatory DRP for: Applicant and Associated Person (Responding to Questions: 9-D2, 9-D3, 9-D4, 9-D5)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 659910

  - **Associated Person:** BILLY RANDOLPH CARTY

  - **CRD Number:** 42297

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 659910

**Regulatory DRP for: Applicant (Responding to Questions: 9-D2, 9-D3, 9-D4, 9-D5)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 659909

**Regulatory DRP for: Applicant and Associated Person (Responding to Questions: 9-D2, 9-D3, 9-D4, 9-D5)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 659704

  - **Associated Person:** BILLY RANDOLPH CARTY

  - **CRD Number:** 42297

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 659704

**Regulatory DRP for: Applicant and Associated Person (Responding to Questions: 9-E2)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 365182

  - **Associated Person:** JOHN C DALLOSTA

  - **CRD Number:** 862900

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 365182

  - **Associated Person:** BILLY RANDOLPH CARTY

  - **CRD Number:** 42297

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 365182

**Regulatory DRP for: Applicant and Associated Person (Responding to Questions: 9-E2)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 113709

  - **Associated Person:** JOHN C DALLOSTA

  - **CRD Number:** 862900

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 113709

  - **Associated Person:** BILLY RANDOLPH CARTY

  - **CRD Number:** 42297

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 113709

**Regulatory DRP for: Applicant (Responding to Questions: 9-D2, 9-D3, 9-D4, 9-D5)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 113708

**Regulatory DRP for: Applicant and Associated Person (Responding to Questions: 9-D2, 9-D3, 9-D4, 9-D5)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 113707

  - **Associated Person:** BILLY RANDOLPH CARTY

  - **CRD Number:** 42297

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 113707

**Regulatory DRP for: Applicant and Associated Person (Responding to Questions: 9-D2, 9-D3, 9-D4, 9-D5)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 113706

  - **Associated Person:** BILLY RANDOLPH CARTY

  - **CRD Number:** 42297

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 113706

**Regulatory DRP for: Applicant and Associated Person (Responding to Questions: 9-D2, 9-D3, 9-D4, 9-D5)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 113705

  - **Associated Person:** BILLY RANDOLPH CARTY

  - **CRD Number:** 42297

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 113705

**Regulatory DRP for: Applicant and Associated Person (Responding to Questions: 9-D2, 9-D3, 9-D4, 9-D5)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 113704

  - **Associated Person:** BILLY RANDOLPH CARTY

  - **CRD Number:** 42297

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 113704

**Regulatory DRP for: Applicant and Associated Person (Responding to Questions: 9-E2)**

- **Filed On (Applicant):** Form ADV/BD/U4 for CARTY & COMPANY

- **CRD Number:** 7001

- **Disclosure Number:** 113701

  - **Associated Person:** JOHN C DALLOSTA

  - **CRD Number:** 862900

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 113701

  - **Associated Person:** BILLY RANDOLPH CARTY

  - **CRD Number:** 42297

  - **Filed On (AP):** Form ADV/BD/U4 for CARTY & COMPANY

  - **Disclosure Number:** 113701

### Execution Page

**Signature:** Jennifer Scola

**Signer Name:** Jennifer Scola

**Title:** CCO

**Date:** 02-06-2026