The most common and most likely answer to this crossword clue is the 12 letter word PLEASANTRIES
I've seen this crossword clue in The Times
P
L
E
A
S
A
N
T
R
I
E
S
Buddy explains!

The straight part
We know that "friendly conversation" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case friendly conversation = pleasantries.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 PLEASANTRIES mean?
PLEASANTRIES noun- A short polite conversation before a serious conversation.
- A casual, courteous remark.
- A playful remark; a jest.
- Anything that promotes pleasure or merriment.