Regard as a wraithlike spectre (7)

I believe the answer is:

respect

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'regard' is the definition.
(respecting is a kind of regarding)

'a wraithlike spectre' is the wordplay.
'spectre' anagrams to 'RESPECT'.
But, I am unsure how this is indicated.

'as' is the link.

Can you help me to learn more?

(Other definitions for respect that I've seen before include "Deference, obedience" , "Treat with consideration" , "Hold in high regard" , "Admiration or esteem" , "Show honour to" .)

I've seen this clue in the Evening Standard.

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