Reference when used as a verb. I'll give you a pass if you're a military spokesperson when you mention "the conversation he was referencing ..." because I don't expect most talking heads to have a great grasp of standard English. But unless you're talking about referencing a timestamp in a recorded conversation – nope.
For example, one can refer to an idea, but one cannot reference an idea. But one could reference a passage that explains a certain idea. Say, [Puffenstuf H.R., (1971). What He Done Said. Perspectives in Bassomathics, 31(2), 132–139, paragraphs 3-5.
In computer-science speak, one can reference an address in memory. In the legal world, one can reference a Supreme Court decision, or a part thereof, given the proper reference. But one cannot reference the thinking that informed the decision. That can't be addressed with any specificity. And so it can't be referenced.
Think of a reference as a citation. It's very specific. The verbing of that nound is tightly bound. But if you want only to refer to something, you have much more latitude.