A Hutton officer stepped down temporarily.

Arnold H. Phelan, executive vice president of E. F. Hutton & Co. futures division, has stepped down temporarily because of a reported link to a money-laundering operation that was part of the Mafia-run “Pizza Connection” heroin and cocaine ring, the brokerage said. Phelan’s attorney, Howard Schneider, said Phelan was confident he had done nothing wrong and that he expected to be back on the job shortly.