The most common and most likely answer to this crossword clue is the 6 plus 6 letter word REPORT STAGES
I've seen this crossword clue in Financial Times
R
E
P
O
R
T
S
T
A
G
E
S
Buddy explains!
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.