A former Goldman Sachs executive tied to a scandal over leaked Fed documents is barred from banking.

The Federal Reserve said on Thursday it had barred a former Goldman Sachs executive, Joseph Jiampietro, from working in the banking industry over a scandal that involved one of his subordinates obtaining leaked regulatory documents.

Goldman Sachs paid a total of $86.3 million in penalties after the episode, which began in 2014 when Rohit Bansal, a junior employee, received confidential regulatory information from the Federal Reserve Bank of New York, where he had previously worked.

When Goldman’s compliance department investigated the matter, it found private documents from the New York Fed on Mr. Jiampietro’s desk — although he told authorities he never read them.

Goldman fired Mr. Jiampietro and Mr. Bansal. Mr. Bansal and his source, Jason Gross, both pleaded guilty to stealing government property and were barred from the industry.

Mr. Jiampietro, who was a managing director at Goldman at the time of his firing, has not worked in banking since, and his lawyer, Adam Ford, said continuing to challenge the accusations was no longer worth it.

“He fought every day to clear his name, but given the lapse of time and his future plans the endless litigation no longer made sense,” Mr. Ford said.

In a statement, the Fed said Mr. Jiampietro had agreed to the prohibition “stemming from his unauthorized use and disclosure of confidential supervisory information” such as bank examination reports and other private materials prepared by regulators.

The incident was embarrassing for both the Fed and Goldman, highlighting the dangers of the so-called revolving door between Wall Street and government. Goldman declined to comment on Thursday.