Malign deal protecting University College (7)
I believe the answer is:
traduce
'malign' is the definition.
('traduce' can be a synonym of 'malign')
'deal protecting university college' is the wordplay.
'deal' becomes 'trade' ('trade' can be a synonym of 'deal'**).
'protecting' indicates putting letters inside.
'university' becomes 'u'.
'college' becomes 'c'.
'u'+'c'='uc'
'trade' going around 'uc' is 'TRADUCE'.
(Other definitions for traduce that I've seen before include "Slander - misrepresent" , "Calumniate" , "Asperse" , "Speak badly of" , "Tell lies about (someone)" .)