A plethora or suspicious things? If the companies are breaking the law, the FTC can sue them and win. If the companies are complying with the law, the FTC should indeed do nothing. If the law is bad, congress can pass new laws.
What's not OK is for the executive branch to not like the law, but be unsuccessful at passing new law through the democratic process, and then use the FTC to unsuccessfully sue companies in order to punish them (and threaten others) with costly legal expenses.