User Configuration\Administrative Templates\Windows Components\Internet Explorer
Prevents users from exporting or importing favorite links by using the Import/Export wizard.
If you enable this policy, the Import/Export wizard cannot import or export favorite links or cookies, which are small text files that contain settings for Web sites.
If you disable this policy or do not configure it, users can import and export favorites in Internet Explorer by clicking the File menu, clicking Import and Export, and then running the Import/Export wizard.
Note
If you enable this policy, users can still view screens in the wizard, but when users click Finish, a prompt will appear that states that this feature has been disabled.