The simple answer is there is no simple answer. It is not appropriate to unequivocally say "no".
The FDA has stated they are not in the business of policing; rather, they put the onus on the seed corporations.
One only needs to look at history to have some serious questions and concerns. Sure genetic engineering hasn't been around very long so one would need to look at the biggest players in the Genetic Engineering Industry. Monsanto & Dow Chemical two chemical companies with an awful track record.
Yes Monsanto IS a big part of GE Food and wields power and influence like Big Tobacco in the 1970s. They do patent seeds and they now own an estimated 25% of the world seeds due to acquisitions. If you don't know about Monsanto's history check out the Monsanto Controls Your Diet article in Salon Magazine's April 2013 issue. Since 1901 they have been making chemicals that poison. Here is a link to the latest study showing a link of GMO food to leukemia
Yes, each study such as this is refuted by 100 Monsanto, Sygenta, etc. supported/funded studies. It is tough to put trust into studies from Univ. of Florida for instance that receives so much from Sygenta. I do not consider any such studies objective. For decades the tobacco industry did the same thing.
Whenever something is so one-sided (and the power and future profits are on that side) I often find myself skeptical. I am by no means against genetic engineering.