Black-marketeer that would upset the elite (4)
I believe the answer is:
spiv
'black-marketeer that would' is the definition.
'spiv' can be an answer for 'black-marketeer' (I've seen this before). I'm not certain of the rest of the definition.
'upset the elite' is the wordplay.
'upset' says the letters should be written in reverse.
'the elite' becomes 'vips'.
'vips' in reverse letter order is 'SPIV'.
Can you help me to learn more?
(Other definitions for spiv that I've seen before include "Flashy black-marketeer" , "Agreement" , "Black marketer" , "Old black marketeer" , "Flashy black marketeer" .)