  Supersymmetric models with broken R-parity induced by lepton number violating
terms provide a calculable framework for neutrino masses and mixings. Within
models with bilinear R-parity breaking six new physical phases appear which are
potential sources of novel CP-violating phenomena compared to the minimal
supersymmetric extension of the standard model. We consider CP-violating
observables in the decays of the lightest supersymmetric particle in this class
of models. We show that: (i) Neutrino physics requires a strong correlation
between three different pairs of phases, thus reducing the effective number of
new phases to three. (ii) CP-violating phenomena in decays of the lightest
supersymmetric particle due to new R-parity breaking phases turn out to be
small, once constraints from neutrino physics are taken into account. We
demonstrate that this feature does not depend on the nature of the lightest
supersymmetric particle.
