School event giving rise to much talk? (6,3)

I believe the answer is:

speech day

'school event' is the definition.
(occasion at some schools)

'much talk?' is the wordplay.
I cannot quite understand how this works, but
'talk?' could be 'speech' (talk is a kind of speech) and 'speech' is present in the answer.
The remaining letters 'day' is a valid word which might be clued in a way I don't see.
This explanation may well be incorrect...

'giving rise to' acts as a link.

(Another definition for speech day that I've seen is " celebration at a school".)

I've seen this clue in The Guardian.

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