Memento from more licentious times (5)
I believe the answer is:
relic
'memento' is the definition.
(a relic is an antique or memento)
'from more licentious times' is the wordplay.
'from' indicates the answer is hidden within the clue.
'RELIC' is hidden in the letters of 'more licentious times'.
(Other definitions for relic that I've seen before include "Item surviving from the past" , "Memorial object" , "Object of historical interest" , "Corporal remains" , "Ancient survival" .)