Check brake lining malfunction
 

What does that mean and what needs to be done to resolve this problem.

Same stuff came up on my dash, but I was informed by BMW that brakes will be needing service soon. Last week the brake light with your described message appeared. I guess, you will need break pads...

change break pads

There is wear sensors located in your brake pads. Once the pads have thinned out to a certain threshold, the sensor is activated to tell you that your brake life is ending. You may have a few more hundred (perhaps a few thousand) miles left in your brakes, but this warning light indicates you should be considering new ones soon.

Yes, it means you will be needing new brake pads. Check your pads. I think I have faulty wear sensors because mine indicate new brake linings are needed but I've got plenty of pad left. FWIW, my sensors were aftermarket (Pex brand?) so maybe they're a little less reliable.