Depending on your local codes, there may be. You may have to fill the gap between the concrete and the framing with extruded polystyrene or other non-conbustible material in order to get rid of the "chimney" behind the wall. Or you may have to just put in a fire barrier on the bottom of the ceiling (firecheck sheetrock works great here).
In some locales you only have to do this if you have electricity running in the wall. In others, you have to do it no matter what. In some you can have no gap if there is electricity in the wall. In others you can have a 1" gap as long as there is no electricity. The key is you will have to check for your area. But independent of codes, for maximum safety the ideal is the framing is just tight enough so 1 layer of extruded polystyrene fits between the two. If your wall varies you can use more or less trimmed insulation to take up the space.
What they are trying to prevent is a fire in the basement racing up behind the wall and directly attacking the space above through unprotected ceiling joists. As such, some locales will allow the hollow space, but you need a fire barrier between the space and the exposed joists. 5/8" firecheck drywall provides the necessary protection in any codes I've seen.
I use this system when building here in Tompkins county.:
- seal the concrete wall (I finally broke down and bought a heavy-duty sprayer so I spray 2 coats of drylok now; backbrushing it in wth a masonry brush as I go).
- insulate joists all the way to the rim joists (ie past the where the concrete starts).
- install one layer of 2" extruded polystyrene against the concrete wall with the insulation tight up against the joists and the floor. Seal all joints wth appropriate tape.
- snap floor and ceiling lines for where the plates will be going. Doing the top line first and drop a plumb line for the bottom line. I build in place using this approach, not build and flip. It far is easier to get a straight wall out of not so straight lumber this way, even when working alone.
- where the wall plates will run between 1"+ to 2.5" away from the insulation I add a second layer of either 1" or 2" to close the gap to
- where the wall plates will run 2.5" or more out, I cut 5/8" firecheck sheetrock strips to width (the snapped lines show you how much) and install directly to joists and tight to the polystyrene insulation. Some inspectors will make you fire caulk the seams; some won't.
- frame the wall, and where necessary trim the sheetrock back a bit so there is a nice tight fit with the back side of the ceiling plate. If you were a bit short in some places fill in the void with fire caulk. Like I said, some inspectors may make you fire caulk it anyway.
- if you want more insulation or do not want voids in your walls (which is bad for HT's if any part of your HT is on the exterior walls), then fill with UNFACED insulation. If you use faced it creates a vapor barrier and you now have a potential if not guaranteed mold problem.
- drywall the walls with no more than 1/2" sheetrock. If you want more drywall than this because you have a HT room which is using an exterior wall(s), then put the extra drywall on the outside wall of the theater facing the other living space. That way all interior walls are balanced wth the same amount of 1/2" sheet rock (same frequency response), you still get your isolation, and your exterior walls can still breathe. I've seen lots of people make the mistake of putting too much drywall on the exterior wall. Let's hope they never get much moisture in the wall...if they do their won't be enough evaporation before mold starts to grow.
- If you paint the drywall do not use an oil or alkyd point. Stick with acrylic or latex. In short, anything that goes on the wall must be permeable and allow moisture vapor to pass.
That's it. The space behind the wall is now no more prone to fire burn-through to the floor above than the living space on the other side of the wall. Any moisture that gets into your wall can breath itself out, and warm air can not get to the foundation wall and cause excessive condensation.