Yep. For OSX, open Terminal and run:
$ open -a Google\ Chrome --args --disable-web-security --user-data-dir
For Linux run:
$ google-chrome --disable-web-security
Also if you're trying to access local files for dev purposes like AJAX or JSON, you can use this flag too.
For Windows go into the command prompt and go into the folder where Chrome.exe is and type
That should disable the same origin policy and allow you to access local files.
Update: For Chrome 22+ you will be presented with an error message that says:
You are using an unsupported command-line flag: --disable-web-security. Stability and security will suffer.
However you can just ignore that message while developing.