The most common and most likely answer to this crossword clue is the 3 plus 7 letter word SEX PISTOLS
I've seen this crossword clue in Financial Times
S
E
X
P
I
S
T
O
L
S
More clues leading to the result SEX PISTOLS
Buddy explains!
The straight part
We know that "band" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case band = sex pistols.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.