The most common and most likely answer to this crossword clue is the 8 letter word ARCHIVAL
I've seen this crossword clue in The Daily Telegraph
A
R
C
H
I
V
A
L
More clues leading to the result ARCHIVAL
- Leading opponent, heartless regarding records
- Like records showing main competitor missing second run
- A competitor receiving honour according to the old records?
- Greatest enemy striking one right from the record
- Major competitor is decentralized with regard to official documents
- Primary competitor loses heart regarding maintenance of records
- Heartless nemesis in the vaults
Buddy explains!

The straight part
We know that "according to the old records" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case according to the old records = archival.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does ARCHIVAL mean?
ARCHIVAL noun- The act of archiving something.
- Of or pertaining to an archive or archiving.