The six-man panel will attempt to find a solution to the complicated domestic calendar which has been blamed for falling attendances at Twenty20 matches.
Potential solutions are understood to include cutting the number of County Championship games from 16 to 10, however reducing the number of Twenty20 matches in a season may be met with opposition from the smaller counties who rely on the revenues they raise from gate receipts.
According to the Telegraph, the CB40 tournament cannot be altered because of the three-year deals with the Dutch and Scottish cricket boards, who both have teams in the competition.
The panel is due to meet twice before reporting to the ECB board, which will make final recommendations next month.
