This was almost purely a propaganda move aimed at creating a distraction and a veneer of responsibility.
And so far I haven't seen the text of the this purported EO. If you know where it's at I'd like to see the text to compare to the law.
FFL NEWSLETTER FEDERAL FIREARMS LICENSEE INFORMATION SERVICE
FFLs and law enforcement have a long-standing history of mutual support and concern for public safety. Therefore, we ask you to report suspicious activity by purchasers or attempted purchasers.
A law, or EO, orders or mandates. A Newsletter asks. Where's the Law? /WTB! Old Lady
Which law orders them to report anything?
As far as I can see at this point it's voluntary reporting and nothing more.
I'm looking.