The most common and most likely answer to this crossword clue is the 5 letter word COLON
I've seen this crossword clue in Financial Times
C
O
L
O
N
More clues leading to the result COLON
- Mark of a writer in community, inconclusive
- See that fleece covers part of body
- Horse briefly on mark
- Body part discovered in Pimlico, London
- Mark somewhere in Central America
- Stop something inside
- Stops dependency short
- Intestine that calls for a pause
- Panama City officer working his final passage
- Currency that might introduce a list
Buddy explains!

The straight part
We know that "Panama City/final passage" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case panama city/final passage = colon.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does COLON mean?
COLON noun- The punctuation mark ":".
- The triangular colon (especially in context of not being able to type the actual triangular colon).
- A rhetorical figure consisting of a clause which is grammatically, but not logically, complete.
- A clause or group of clauses written as a line, or taken as a standard of measure in ancient manuscripts or texts.
- Part of the large intestine; the final segment of the digestive system, after (distal to) the ileum and before (proximal to) the anus.
- A husbandman.
- A European colonial settler, especially in a French colony.