"Agent and Subagent in Regulatory Compliance"

B

The term "crcm" is not related to the question, so I will focus on the question itself.

The answer to this question is A. Clearing agent.

A clearing agent is an individual or an entity that acts as an intermediary between the buyer and the seller of a financial instrument, such as a check or a bond. The clearing agent facilitates the transaction by ensuring that the funds are transferred securely and efficiently from the buyer to the seller.

In this context, the clearing agent is acting as a subagent of the owner of an item, which means that it is authorized to act on behalf of the owner in relation to the sale of the item. However, the agency relationship terminates once the clearing agent receives payment for the item in finally collected funds and makes the proceeds available to the sender.

Finally collected funds refer to funds that have been received and cleared by the clearing agent's bank, which means that the transaction is complete and the funds are available for use. Once this occurs, the agency relationship between the clearing agent and the owner of the item is terminated, and the owner is free to take any legal action necessary to protect their interests.

It is important to note that the time for commencing all actions against the clearing agent has expired once the proceeds of the sale have been made available to the sender. This means that any legal action must be taken before this time period expires.

In summary, a clearing agent is an agent or subagent of the owner of an item that facilitates the sale of the item by ensuring the secure and efficient transfer of funds between the buyer and the seller. The agency relationship terminates once payment has been received in finally collected funds and the proceeds of the sale have been made available to the sender.