To implement restrictions for both the browser and integrated shell, use Regedt32 to navigate to:

All users of this computer

HKEY_LOCAL_MACHINE\Software\Policies\Microsoft\Internet Explorer\Restrictions

Selected user(s)

HKEY_CURRENT_USER\Software\Policies\Microsoft\Internet Explorer\Restrictions

For each restriction listed below, add the Value Name as a type REG_DWORD. Set the data value to a 1 to implement the restriction. Set it to a 0 to remove the restriction.

NOTE: If you have both workstation and user based restrictions, workstation restrictions take precedence. If a given restriction (Value Name) does NOT exist for the workstation, user restrictions are checked. A 0 data value for the workstation prevents the user restriction for that Value Name from being checked. A restriction also inhibits any associated keyboard shortcut.

<b>   Value Name                   D e s c r i p t i o n</b>  
---------------------------------------------------------------
   NoToolbarCustomize           Customize the toolbar.
   NoBandCustomize              Customize the band.
   SmallIcons                   Force small icons.
   LockIconSize                 Change the icon size.
   SpecifyDefaultButtons        Must be set 1 if you are going to disable any of the
                                default buttons, such as the Back button (Btn_Back).
   Btn_Back                     Back button and menu item.
   Btn_Forward                  Forward button and menu item.
   Btn_Stop                     Stop button and menu item.
   Btn_Refresh                  Refresh button and menu item.
   Btn_Home                     Home button and menu item.
   Btn_Search                   Search button and menu item.
   Btn_History                  History button and menu item.
   Btn_Favorites                Favorites button and menu item.
   Btn_Folders                  Folders Options command on the View menu.
   Btn_Fullscreen               Full Screen command on the Edit menu.
   Btn_Tools                    Tools button and menu item.
   Btn_MailNews                 Mail and News button and menu item.
   Btn_Size                     Edit text size menu item.
   Btn_Print                    Print button and menu item.
   Btn_Edit                     Edit menu item.
   Btn_Discussions              Discussion button and menu item.
   Btn_Cut                      Edit / cut menu item.
   Btn_Copy                     Edit / copy menu item.
   Btn_Paste                    Edit / paste menu item.
   Btn_Encoding                 View / encoding menu item.
   NoWindowsUpdate              Removes Windows Update from the Tools Menu.
   NoExpandedNewMenu            Expanding new menus.
   NoFileUrl                    Run link to local file URL.
   NoChannelUI                  Channels user interface.
   NoAddingChannels             Add channels.
   NoEditingChannels            Edit channels.
   NoRemovingChannels           Remove channels.
   NoAddingSubscriptions        Add subscriptions.
   NoEditingSubscriptions       Edit subscriptions.
   NoRemovingSubscriptions      Remove subscriptions.
   NoChannelLogging             Channel logging.
   NoManualUpdates              Manual updates.
   NoScheduledUpdates           Update schedules.
   NoUnattendedDialing          Unattended dialing.
   NoChannelContent             Channel CDFs will be delivered but without content.
                                Overrides the per channel settings.
   NoSubscriptionContent        Subscriptions will be monitored for changes
                                but content will not be downloaded.
   NoEditingScheduleGroups      Edit schedule groups / create new ones.
   MaxChannelSize               Maximum size in KB of channel elements in the cache.  
                                Overrides channel maximums set by the user.
   MaxSubscriptionSize          Maximum size in KB of subscription elements in the cache.  
                                Overrides subscription maximums set by the user.
   MaxChannelCount              User cannot add more than N channels. Not applied retroactively.
                                Admins can push more than N. N may not be zero.
   MaxSubscriptionCount         User cannot add more than N subscriptions. Not applied retroactively.
                                Admin can push more than N. N may not be zero.
   MinUpdateInterval            Channels and subscriptions cannot be updated more often
                                than this number of minutes.
   UpdateExcludeBegin           Number of minutes from midnight where schedule changes are excluded.
                                Zero is not valid.
   UpdateExcludeEnd             End of a range in which to exclude schedule updates.
                                May be lower than UpdateExcludeBegin.
   UpdateInNewProcess           Subscriptions will be updated in a separate process,
                                making the system more stable, but slightly slower.
   MaxWebcrawlLevels            Site subscriptions will be limited to MaxWebcrawlLevels - 1.
                                Zero disables the restriction.
   MaxChannelLevels             Channel subscriptions which contain LEVEL tags will be limited to MaxChannelLevels - 1.
                                Zero disables the restriction.
   NoSubscriptionPasswords      Prevents the entering and caching of passwords.
   NoBrowserSaveWebComplete     Only save as .HTML, .HTM, or .TXT.
   NoSearchCustomization        Customize search.
   NoSplash                     Startup spalsh screen.
The following restrictions are for the browser only:
   NoFileOpen                   File / open menu item.
   NoFileNew                    File / new menu item.
   NoBrowserSaveAs              File / save as menu item.
   NoBrowserOptions             Tools / internet options menu item.
   NoFavorites                  Favorites menu item.
   NoSelectDownloadDir          Select download directory.
   NoBrowserContextMenu         Broswer context menu.
   NoBrowserClose               Close browser.
   NoOpeninNewWnd               New browser window.
   NoTheaterMode                Theater mode.
   NoFindFiles                  Find files dialog.
   NoViewSource                 Edit / view source menu item.
   RestGoMenu                   View / go to menu item.
   NoToolbarOptions             Toolbar options.
   AlwaysPromptWhenDownload     Always prompts when downloading.
   NoHelpItemTipOfTheDay        Tip of the day.
   NoHelpItemNetscapeHelp       Netscape help.
   NoHelpItemTutorial           Tutorial.
   NoHelpItemSendFeedback       Send feedback.
   NoNavButtons                 Navigation buttons.
   NoHelpMenu                   Help menu item.
   NoBrowserBars                Browser bars.
   NoToolBar                    Tool bar.
   NoAddressBar                 Address bar.
   NoLinksBar                   Links bar.