Reportedly needs to be loose (3)
I believe the answer is:
lax
'be loose' is the definition.
(synonyms)
'reportedly needs' is the wordplay.
'reportedly' shows a homophone (sound like).
'needs' becomes 'lacks' (lack is a kind of need).
'lacks' sounds like 'LAX'.
'to' acts as a link.
(Other definitions for lax that I've seen before include "Loose, careless" , "Sloppy" , "Negligent" , "Not strict or conscientious" , "Not sufficiently strict" .)