The match was stopped for several minutes while referee Eirian Williams had to make a difficult call as to whether Selby had hit a red or the pink first when escaping from a snooker.
WPBSA Chairman Jason Fergsuon called for the inquiry following comments made by both players after the match.
The inquiry will be led by Ferguson and former referee Alan Chamberlain and will include statements from both players and the match referee.
Ferguson said: "I want to make very clear from the outset that this inquiry is not part of any disciplinary procedure and has no effect on the outcome of the match. Mark Selby is a deserving champion and won the match fair and square. Our rules state that any decision by the referee is final.
"However, through this inquiry we will look to establish tighter guidelines for referees when such difficult decisions need to be made.
"A further statement will be released once the inquiry is complete."
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If you missed the final click here for a report which includes the related incident and a video of it.
It's good to hear that Jason Ferguson and the WPBSA are taking immedient action over the issue as it clearly affected the outcome of that frame and possibly even the entire match. Also what is nice is that it isn't disciplinary related and that no one will be blamed over it, probably just a rule change and more slow motion replay capabilities in future events.
Take nothing away from Mark Selby and his victory but if referee Eirian Williams' decision had gone the other way, Mark Williams could of possibly been the Shanghai Masters champion right now. Either way it will be good to get some clarity on the issue and when the result is known I will post it here on Maximum Snooker.
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