BMW questions? Ask a BMW repair Expert for answers.
The lights your describe relate to the DSC dynamic stability control system. When there is a failure in the system these light come on to indicate that you may not have ABS brakes, and stability control functioning correctly due to a failure of the DSC computer or and input to the computer...like a steering angle sensor or wheel speed sensor.
The best way to find out what is going on in my opinion is to have the dealer read out the fault code and run a test on the system. At the dealer we can see more information and run more tests to get to the bottom of a problem faster. And we have the luxury of swapping parts for testing. This reduces the overall time to diagnose the problem.
Your brakes will continue to work normally but may not have ABS functionality. You should avoid harsh braking until the fault can be read out and rectified.
I hope this information is helpful. Please hit the accept tab and please let me know if I can try to clarify anything for you.