SOURCE: ABS and anti skid tracking control lights stay on in my BMW 523i
Unfortunately there are several possibilities that are common to causing the light to come on. I would suggest taking the car in to a dealer and having them read out the fault memory. Such possibilities are a failed speed sensor, a binding DSC/ACS actuator cable, or faulty DCS/ASC control unit. If you know how, you can disconnect the speed sensors, and check for voltage output across the the terminals inside the connector going to the speed sensor while rotating the wheel. A dealer should charge you about an 1hour fee to check out your system. Due to the cost of parts involved, I would recommend having it checked before just guessing.
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