The most common and most likely answer to this crossword clue is the 10 letter word ESCUTCHEON
I've seen this crossword clue in Financial Times
E
S
C
U
T
C
H
E
O
N
More clues leading to the result ESCUTCHEON
- Energy's reduced — check period and switch cover?
- Shield of eastern lad covering wounded revolutionary?
- Shield lets axe in once and he's crocked
- Shield university kept in battered chest once
- Shield English lad about to dodge church parade at last
- Scout, hence improvised shield
- Shield lets axe in once he’s reeling
- Shield wounded guerrilla imprisoned by flipping beak
- Shield design of touch screen with no end of bother
- Within design chosen by European, style protective metal plate
Buddy explains!

The straight part
We know that "Shield" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case shield = escutcheon.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 ESCUTCHEON mean?
ESCUTCHEON noun- An individual or corporate coat of arms.
- A small shield used to charge a larger one.
- The pattern of distribution of hair upon the pubic mound.
- A marking upon the back of a cow's udder and the space above it (the perineum), formed by the hair growing upward or outward instead of downward. It was once taken as an index of milking qualities.
- The part of a ship's stern where its name is displayed.
- A decorative and/or protective plate or bezel to fill the gap between a switch, pipe, valve, control knob, etc., and the surface from which it protrudes.
- The insignia around a doorknob's exterior hardware or a door lock's cosmetic plate.
- The depression behind the beak of certain bivalves; the ligamental area.