Crossword Genius

Your setter's not above rejigging past clue, which is risky (11)

Ross

I believe the answer is:

speculative

I'm a little stuck... Click here to teach me more about this clue!

'is risky' is the definition.
(synonyms)

'your setter's not above rejigging past clue' is the wordplay.
I cannot really understand how this works, but
'setter's' could be 'ive' ('I've', referring to the crossword setter) and 'ive' is found in the answer.
an anagram of 'clue' is 'ecul' which is located in the answer.
an anagram of 'past' is 'spat' which is located in the left over letters.
This accounts for all the letters.
This may be the basis of the clue (or it may be nonsense).

'which' is the link.

Can you help me to learn more?

(Other definitions for speculative that I've seen before include "Based on conjecture" , "questioning" , "Conjecturing - high-risk" , "not certain of success" , "involving guesswork" .)

I've seen this clue in The Independent.
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