I know plenty say its your brake fluid is low, or your brake pads are worn or the camshaft sensor is bad. Those are all good, but it does not address the problem since the SES light is not on, which means there is a problem with ABS or VDC system. Try this method it might help you out, since I have the same dilema, especially if you have the Intelligent cruise control system.
Within 5-15 seconds of turning on the car (motor running), press the up on the cruise tab 5 times and then down 5 times, on your cluster you will see a series of numbers pop up on the LCD which states what gear the car is in. Once you have those numbers go to this link
http://www.nicoclub.com/FSM/M/2006_M45-M35/acs.pdf and scroll down to ACTION TEST section which will explain the error code.
And just to make sure, you can try to clear the code while it's still running by pressing the cancel button 5 times and then the distance button if you have the Intelligent cruise control system. If done correctly a number 55 will blink in the LCD section of the gear selector indicator. Turn off the car and re-start it and go for a drive above 19MPH and the lights will turn off and remain off if there is no fault, if the fault is still present the lights will turn back on until the error is fixed. It's how I figured what my problem is.