What is the relation between the FATF and the CFATF? Does the CFATF issue its standards?

The CFATF is an international / inter-governmental organization, a regional style body like the FATF which follows and ensures its Members comply with the FATF Recommendations. It does not issue standards on its own.

For the history of the FATF and the Standards, please visit: http://www.fatf-gafi.org