How to fix the BMW / MINI steering lock warning

This is your car immobilizer light

Power steering warning light

Its the steering lock. A common fault. Here is how to fix it by stripping down the steering lock, and/ or just doing a software reset

If you have an automatic transmission, you may have two exclamation points in warning lights on the dash. The one in the circle with gear cogs around its perimeter is an error warning light for the computer in the automatic transmission. I have never had that light, but I would first disconnect the battery to try to clear it, and if that failed, I would have to take the car to a good independent shop that specializes in BMWs. Go to Car Talk website for recommendations for a shop.
The exclamation point in a triangle which in turn is in a circle, located between the speedometer and tach, is for the Automatic Stability Control. It should illuminate when you press the ASC button on the console which turns the ASC off. The light warns you when the ASC is turned off.
If there is a problem with the ASC, the most common problems are: 1) Failed switch in the console. 2) Damage or foreign objects in the wheel speed sensors. There are tooth wheels near the front brake rotors and on the rear axle. There are sensors near the toothed wheels that detect wheel speed. The the sensors must be the correct distance from the toothed wheel. If their wires are chaffed, or the toothed wheel is bent or broken, they won't work. 3) Poor connections on the ASC electrical connectors under the hood. Look on the ASC (outboard) throttle body and on the brake controller module. 4) I once put on a new throttle body rubber boot, and I left the screw on the hose clamp positioned at 12 o-clock, up on top of the boot. The ASC throttle arm collided with the hose clamp screw so the throttle motion was restricted. That set an ASC error code and illuminated the light.

This is a somewhat common problem, usually occurs also with ""steering lock fault". It appears to be a software/hardware issue. See VW dealer.
Can be worked around by: inserting key to first stop>wait for yellow steering wheel light to go out>insert key to second stop>wait for red steering wheel light to go out>start er up. This somehow works around the software issue.