In the wake of an FBI investigation into corruption, the NCAA announced on Wednesday the formation of a commission on college basketball.

In a statement, NCAA president Mark Emmert said the commission will begin operating in November and will consist of "leaders from higher education, college sports, government and the business world" to examine "critical aspects of a system that clearly is not working."

Led by chairwoman Condoleezza Rice, the commission will focus on three aspects of college basketball: the NCAA's relationship with entities like apparel companies and agents/advisors, the effect of the NBA's one-and-done rule on college basketball, and promoting "transparency and accountability" between schools and the NCAA.

On Sept. 26, 10 people, including four assistant basketball coaches, were charged with bribery conspiracy, solicitation of bribes, honest services fraud conspiracy, honest service fraud, conspiracy to commit wire fraud and Travel Act conspiracy. 

The coaches were Chuck Person from Auburn, LaMont Evans from Oklahoma State, Emanuel Richardson from Arizona and Tony Bland from USC. 

Joon Kim, acting U.S. Attorney Southern District of New York, noted the alleged bribery scheme involved talent advisors and managers bribing the four college coaches to direct recruits and their families to sign with them. 

Person and Richardson have been suspended by their respective schools, and Evans was fired from Oklahoma State.